FTSE falls as gilt yields keep rising and dashed US rate cut hopes hit stocks

The FTSE 100 index fell 24.3 points to finish the day at 8,224.19, or 0.29% down (Kirsty O’Connor/PA) - (PA Wire)

The FTSE 100 fell on Monday amid continued market jitters over rising public borrowing costs, and as expectations for further interest rate cuts by the Federal Reserve were slashed.

The yield on a 10-year gilt was about 4.9%, meaning borrowing costs remain at their highest point since 2008.