British equities drop 1%; Dr Martens, Superdry tumble

London stocks took a dive on Tuesday, with most sectors trading in red, as traders pulled back expectations of rapid U.S. rate cuts, while shares of Dr Martens and Superdry tumbled on disappointing corporate updates. As of 0719 GMT, the resource-heavy FTSE 100 lost 1.2% to their lowest levels in a month, while the mid-cap FTSE 250 fell 1.4%. Shares of Dr Martens slumped 25.2%, dragging the personal goods sector by 4%, after the bootmaker named a new chief exective and flagged a challenging fiscal 2025 amid weak U.S. demand.