FTSE 100 falls on Hormuz attack and tech selloff

Key Facts

1The FTSE 100 fell on Friday following an attack in the Strait of Hormuz that raised geopolitical concerns, along with a tech selloff that dampened sentiment.

Amid rising geopolitical tensions and a tech stock selloff, the FTSE 100 declined in Friday trading, according to news reports. Sources said an attack in the Strait of Hormuz raised concerns about oil supply disruptions, alongside a broad selloff in technology stocks that dampened sentiment in London.

The decline follows weak UK economic data, with the services PMI falling to 48.7 in June, below forecasts and indicating a contraction in the sector, per market data. In contrast, the US services PMI came in at 51.3, reflecting continued but modest growth.

Investors are monitoring geopolitical developments in the Gulf region, along with upcoming US inflation data, for direction in the coming sessions. UK economic readings also remain a focal point amid pressure on the services sector.