FTSE 100 Set to Slip as US Retaliates Against Surprise Iran Attacks

The FTSE 100 is expected to fall on Wednesday after the US and Saudi Arabia launched joint retaliatory strikes against Iran-backed militias in Iraq, ending a brief pause in conflict. The US claimed its forces were targeted by an attempted surprise attack by Iran. The UK blue-chip index had gained 0.8% on Tuesday as oil prices fell during the pause. Brent crude dropped 4.8% to $84.09 per barrel, reaching a two-week low. In the US, the Nasdaq continued its tech stock rout, which had earlier impacted South Korea's Kospi and Japan's Nikkei. Analysts noted that the FTSE's lack of big tech constituents proved advantageous. Wednesday is busy with trading updates from companies including Rathbones, Greggs, Standard Chartered, and Reckitt.