Wall Street

Global gloom hits UK stocks, Royal Mail slides on broker downgrade

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Reuters UK

(Reuters) – UK’s FTSE 100 slipped on Tuesday as the global mood soured due to bleak results from social media firm Snap Inc, while shares in Royal Mail slid after a brokerage downgraded the postal company. The blue-chip FTSE 100 fell 0.9% by 0712 GMT, while the midcap FTSE 250 index also dropped 0.9%. The tech-heavy Nasdaq’s futures tumbled 2%, pointing to sharp opening losses for Wall Street after Snap Inc said the economy had worsened faster than expected in the last month and slashed its quarterly forecast. Its shares were down about 35% in Frankfurt trading. British advertising group WPP t…

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