FTSE 100 crashes as global markets plunge on inflation fears

London's top-flight index has joined global markets by crashing into the red over fears that rising inflation could force central banks to hike interest rates.

The FTSE 100 Index sank by more than 2.5% - hitting its lowest level since late 2016 at 7,079.41 - before paring losses to fall 163.57 points to 7,167.08.