LONDON: British stocks plunged on Monday, and the pound climbed against the US dollar as the Silicon Valley Bank (SVB) collapse spooked financial markets and raised expectations that US rate hikes would slow down.The FTSE 100 index, the leading benchmark for blue chip companies listed in the United Kingdom (UK), ended the session down 2.58 per cent, or 199.72 points, at 7,548.63. Standard Chartered and Barclays were among the worst performers.“Despite the best efforts of governments and regulators, the market was still very edgy on Monday as investors considered the fallout from SVB’s collapse,“ said Russ Mould, investment director at the online investment platform AJ Bell. “There’s plenty t
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