FTSE Falls Despite Nvidia's Strong Earnings
The FTSE 100 index closed down 85.58 points on Thursday, or 0.8%, at 10,792.54, as investors remained wary ahead of a key speech by Kevin Warsh at Jackson Hole.
Nvidia's better-than-forecast guidance helped technology-focused stocks, pushing the company's shares up 7.5% and boosting Computacenter, Polar Capital Technology Trust, and Scottish Mortgage Investment Trust.
However, analyst Susannah Streeter cautioned that sentiment is set to become more cautious due to concerns about inflation, government debt piles, and interest rates lingering at elevated levels.
Cleveland Federal Reserve president Beth Hammack also echoed this view, calling for higher interest rates, citing recent inflation data as evidence that the central bank is still too far from its goal.