London Stocks Tumble Amid Commodity Price Drops and U.S. Political Turbulence

London stocks fell on Monday due to declining commodity prices and political uncertainty in the United States. Burberry shares hit a 14-year low after cancelling its dividend and replacing its CEO. The FTSE 100 index dropped 0.6%, the FTSE 250 fell 0.5%, and the pound weakened 0.2% against the dollar.

On Monday, London stocks experienced a notable decline as lower commodity prices and heightened political uncertainty in the United States dampened investor sentiment. Luxury retailer Burberry contributed to the downturn, plunging to a 14-year low after it cancelled its dividend payment and announced a CEO change.

The FTSE 100 index fell by 0.6% while the FTSE 250 dipped 0.5% as of 0717 GMT. Concurrently, the pound saw a 0.2% decrease against the dollar, reversing gains from the previous session.

Burberry's shares dropped sharply by 10.7% after the ousting of CEO Jonathan Akeroyd and profit warnings. The retailer appointed former Michael Kors executive Joshua Schulman as the new CEO. The personal goods sector suffered, pushing the benchmark index down further.

(With inputs from agencies.)