Barclays, HSBC shares slide again as oil shock upends UK rate-cut bets
Barclays and HSBC shares dropped about 4.5% in London on Tuesday as UK bank stocks extended losses amid surging oil prices and renewed inflation fears. Brent crude rose 3.3% to $84.07 a barrel. The FTSE 100 posted its sharpest daily decline in nearly a year. Traders cut odds of a Bank of England rate cut this month to 22%.