A pick-up in a manufacturing survey reinforced fears that the recent round of rate cuts would grind to a halt. An opening loss on Wall Street amid fears of a rate hike by the Fed also helped dampen sentiment.
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UK SHARES took a tumble yesterday, hit by growing worries over the direction of British and US interest rates. The FTSE 100 index closed 114.2 points lower at 6,060.9, as dealers worried that the Bank of England would leave rates unchanged tomorrow.