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The Guardian - UK
The Guardian - UK
Business
Sarah Butler

Tesco, Sainsbury’s and M&S shares take £4bn hit amid Asda price war fears

Busy supermarket store
Asda is to invest more in price cuts and putting more staff in shops. Photograph: Jim Holden/Alamy

More than £4bn has been wiped off the value of Tesco, Sainsbury’s and Marks & Spencer stock since Friday amid fears that rival Asda will step up the grocery price war.

Tesco, the UK’s biggest supermarket, took the biggest hit as its share price fell more than 12% on Monday, while second-place Sainsbury’s was down more than 8%, with M&S dropping 9%.

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