The more UK-focused stocks of the FTSE 250 lurched lower after the Bank of England ramped up interest rates 50 basis points to 5.0%.
In morning trading before the decision was made, the mid-cap index had fallen around 100 points, but following the announcement it tumbled another 180 points.
Just an hour after the decision it was down 1.6% at 18,283, its lowest since 20 March.
The biggest mid-cap fallers were property developer British Land Company PLC (LSE:BLND), down 6.4%; challenger bank Virgin Money UK PLC, down 4.8%; and housebuilder Vistry Group PLC, down 4.1%.
Several other housebuilders are among the big fallers, including Bellway PLC (LSE:BWY), Redrow PLC (LSE:RDW), Ibstock PLC and blue-chips, Persimmon PLC (LSE:PSN), Barratt Developments PLC (LSE:BDEV) and Berkeley Group Holdings PLC (LSE:BKG), all down more than 3%.
Other real estate investors were also lurching lower, including Balanced Commercial Property Trust Ltd and LondonMetric Property PLC.