Trading in some bank and housebuilder stocks was halted this morning after the companies’ share prices fell by more than 8 per cent.
Shares in Barclays and Royal Bank of Scotland both fell more than ten per cent in early trading this morning, triggering the London Stock Exchange’s circuit breakers and leading to a temporary suspension in trading.
Housebuilder Taylor Wimpey also saw a slump in its stock price of more than 8 per cent, triggering the five-minute suspension in trading.
Legal and General and challenger bank Virgin Money also saw losses, with trading in their shares suspended after market falls.
Taylor Wimpey shares are currently down more than 13 per cent on the day since market open, Barclays is down 11 per cent and RBS is down 14.5 per cent. Legal and General has fallen around 9 per cent since open, while Virgin Money is down 20 per cent.
Other homebuilders to see trading in their shares temporarily suspended included Berkeley Group, Crest Nicholson and Barratt Development. Shares in the firms were down 10.6 per cent, 10.3 per cent and 12.1 per cent respectively.
The FTSE 100 is currently down 81 points, a fall of 1.33 per cent on market open, to 6,057.14 at time of publishing.
Away from financial firms, Easyjet has been one of the biggest losers of the day, after issuing a profit warning. The stock is down more than 18.5 per cent on the day. The airline joined International Airlines Group and issued a profit warning for the third quarter.