This morning, the index was down 1% again, as more bad news came overnight. The Federal Reserve released minutes from its last meeting in which it wrote that "almost all" officials were in favour of a rate hike pause in June, but this was with a view to assessing whether more rate hikes would be needed.

Among stocks, Currys dropped 11.7% after posting a 38% drop in full year profit.

United Utilities gained 2% after Morgan Stanley raised its recommendation on the stock to "overweight" from "equal-weight."

Things to read today:

Instagram Snags 10 Million Users Within Hours for Threads App, a Threat to Twitter (Bloomberg)

As Greedflation Starts to Fade, Wageflation Creeps In (WSJ)