Source - SMW
The FTSE 100 suffered its worst one-day fall this year as the global market correction continued, falling 2.1% to 7,177.

This did represent a recovery from the lows seen in early trading this morning.

There was a sea of red across the board as UK equities followed the US and Asian markets lower on concerns about the end of a low interest rate era.

Overnight the Dow Jones has seen the biggest points fall in its history and the largest percentage decline since 2011.

There were very few risers on the FTSE, with Capita (CPI) leading the winners, up 6.8% at 186p.

Brent crude oil was down 0.7% at around $67 per barrel. Gold climbed 0.7% to $1,342 per ounce and copper cheapened 0.6% to $3.19 per pound. 

MID AND LARGE CAP RISERS AND FALLERS

Midcap IT infrastructure provider Softcat (SCT) revealed it is anticipated to 'slightly exceed' previous full year expectations, pushing the shares 1.5% higher to 525.7p.

Investors were disappointed with online grocer Ocado (OCDO) after missing forecasts with flat full year core earnings, causing the stock to slump 6.4% to 460.8p. The company also said it plans to raise £140m for further growth.

Oil major BP (BP.) beat fourth-quarter analyst expectations but could not fight off the negative sentiment and slid 0.7% to 478.5p.

Stagecoach (SGC) declined 5.9% to 136.6p after the UK government confirmed its East Coast franchise would end earlier than expected after the firm messed up the numbers. This had a negative read across for Southeastern franchise owner Go-Ahead (GOG), which fell 4% to £14.62.

Engineer outsourcer Babcock (BAB) cut its sales forecast for the 2018 full year to between £5.3bn and £5.4bn amid a tough trading environment. Shares in Babcock retreated 1.6% to 641.8p.

SMALL CAP RISERS AND FALLERS

Investment company Utilico Emerging Markets (UEM) fell 2.5% to 210.5p as investors rushed to claw back cash invested in equities overseas.