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London Markets: U.K. blue chips stumble after Russia’s attack on nuclear power plant

U.K. blue chips were getting hammered on Friday in their worst performance of an already-difficult week, as even commodity producers slumped on day nine of the Russian invasion of Ukraine.

The FTSE 100

in afternoon trade dropped more than 3%, with only a handful of blue chips trading in positive territory.

Russia’s attack on Europe’s largest nuclear power plant unsettled investors, even though it didn’t result in a rise in radiation.

“The flight to safety is continuing on the financial markets as investors exit positions they see as more risky, and pile into other asset classes which they hope may offer some more defense against the volatility,” said Susannah Streeter, senior investment and markets analyst at Hargreaves Lansdown.

Heavily battered Russian plays Evraz

and Polymetal International

were the two exceptions, both surging in volatile trade.

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