FTSE Plunges Amid Ongoing Oil Price Volatility

The FTSE 100 index closed down 0.4% on Tuesday, weighed by high bond yields and fears of higher interest rates.

Oil prices remained stubbornly high amid ongoing tensions between the US and Iran, with Brent crude quoted at $108.48 per barrel in London.

Investors are concerned that elevated energy costs will lead to higher inflation, prompting the Bank of England to consider tightening monetary policy.

Susannah Streeter, chief investment strategist at Wealth Club, noted that the conflict has become more entrenched and is likely to have a lasting impact on economies worldwide.