FTSE 250 on its way down to equal longest losing streak | Business

The FTSE 250 looks likely to equal its longest ever losing streak as traders bail out of London’s mid-cap stocks.

The index, which is home to companies that make the bulk of their profits in the UK, such as Marks and Spencer and Royal Mail, fell another 354.11 points, or 2.7 per cent, to an eight-year low of 12,654.08. It has now racked up losses in each of the past 11 sessions, something it has only ever achieved twice: in June 1994 and again in June 1998.

The housebuilder Crest Nicholson was one of the index’s heaviest fallers after cancelling its dividend, which was due to be paid out next month, amid worries that the coronavirus would have a “significant impact” on sales. The stock