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Story summary
- The FTSE 100 closed down 123 points (1.27%), its largest one-day drop since early April.
- The decline reflects concerns about AI valuations and fading hopes for a US rate cut.
- The US S&P 500 fell 1% today, its longest losing streak since August, signaling ongoing weakness.
- In Ireland, Simon Harris was appointed Ireland's new finance minister after Paschal Donohoe left for the World Bank.
