Missed golf putt costs sponsor €128m

Stock markets and their fascination with sports stars was thrown into sharp focus when a missed putt by US golfer Jordan Spieth led to a shares rout that wiped $140m (€128.6m) off the value of his clothing sponsor, Under Armour.

At the British Open on Monday, a matter of inches separated Mr Spieth and a shot at winning an incredible third major title. That spurred investors – many of whom bought shares in the US clothing firm in anticipation of a potential win – to offload their stock.

Shares in Under Armour fell from $89.46 on the New York Stock Exchange to $88.79 minutes after the missed putt.