Dr Martens hits alltime low after flagging weak demand
Superdry drops to record low, details restructuring plan
FTSE 100, FTSE 250 down 1.5

April 16 Reuters London stocks dived on Tuesday, with most sectors in the red, as traders pulled back expectations of rapid U.S. rate cuts, while shares of Dr Martens and Superdry tumbled on disappointing corporate updates.

The resourceheavy FTSE 100 and the midcap FTSE 250 fell 1.5 each by 0835 GMT.

While the FTSE 100 looked set for its biggest intraday percentage drop in eight months, the FTSE 250 was on track for the biggest decline in three months.

Dr Martens slumped 31.3 to a record low after it named a new CEO and flagged a challenging fiscal 2025 on weak U.S. demand. The personal goods sector led sectoral losses, falling 4.1 on the news.

Superdry tumbled 18.8 after it launched a turnaround plan that included an equity raise that would take the firm private.

Industrial Metal miners followed with a 2.9 fall after prices of nonferrous metals dropped on a stronger U.S. dollar.

The precious metal miners index was the only outlier, rising 0.9 as concerns over rising geopolitical tensions between Iran and Israel propped up demand for gold.

Investors39; expectations of a rate cut by the U.S. Federal Reserve further inclined toward September after hotterthanexpected retail sales data narrated a higherforlonger story.

Meanwhile, unemployment in the UK edged higher in February and wages saw their weakest climb since mid2022,…