ASOS plunged over 40 percent, recording its worst one-day drop ever and losing roughly 1.3 billion pounds in market value. It follows weak outlooks from other big UK high street names, including Dixons Carphone (Frankfurt: CWB.F - news) and Sports Direct . The sell-off also did not spare the small-caps, taking off 16.5 percent from N Brown (LSE: BWNG.L - news) and 7.1 percent off Debenhams shares. Also weighing on investor confidence was property data showing that asking prices suffered their biggest fall over a two-month period since 2012. The report also led to a 4.3 percent fall in budget airline EasyJet (Frankfurt: A1JTC1 - news) .

Source: The Times May 22, 2024 17:23 UTC