FTSE 100 Live: Banks and AI fear send blue-chip index lower

London stocks are being deed arsenic "herd mentality stokes anxiousness astir the threats from artificial intelligence", says marketplace expert Derren Nathan astatine Hargreaves Lansdown.

Companies specified arsenic Sage, RELX, Experian and the London Stock Exchange Group are the ones helium cites.

"Warren Buffett’s mantra of being greedy successful times of fearfulness could service investors good here, arsenic agelong arsenic they’re prepared to clasp for the long-term."

However, Nigel Green, main enforcement of deVere Group, warns investors not to disregard the caller AI scare trade after crisp falls successful software, payments and logistics stocks.

"Markets are delivering a superior signal. Capital is being repriced astir the implications of AI and tech successful existent time,” helium says.

Green cautions that "investors who dainty this arsenic ‘noise’ are underestimating the standard of structural alteration present underway”, with markets shifting from pricing AI arsenic upside to assessing “displacement risk”.

He concludes: "The AI scare commercialized signals the emergence of a much selective marketplace phase. Automation volition proceed to compress azygous services [ie offerings that travel a acceptable process and don’t alteration overmuch betwixt clients], portion complexity and strategical judgement bid greater value.

"Investors and consumers who admit that favoritism aboriginal volition beryllium amended positioned arsenic AI and tech reshape pricing power, competitory dynamics, and consolidation patterns crossed the planetary economy.”.”

The FTSE 100 has slipped lower, down 24 points to 10,660.8 successful opening trades, dragged down by banks, miners and immoderate 'AI fear' selling.

Barclays and Lloyds Banking Group are down 1.9% and 1.8%, with NatWest and HSBC some down much than 1%. Is this further spillover from the Blue Owl backstage recognition worries (see below)?

Also Rightmove, RELX, LSEG and Sage Group are down betwixt 2% and 1%.

Among the miners, Fresnillo and Fresnillo are down either broadside of 1% arsenic golden retreats a small but inactive sits supra $5,165 an ounce.

Donald Trump's caller 10% planetary levy came into unit from midnight US Eastern Time, but helium has delayed plans for a steeper 15% tariff.

According to reports, the determination follows a backlash from respective US partners, including the EU and the UK, implicit the higher projected rate.

The White House signalled that the 15% tariff has not been dropped altogether. “It is being worked connected and volition travel later,” an authoritative said, without giving a timetable.