The FTSE 100 sank at the open on Monday as investors adopt a risk-avoidance strategy ahead of US President Donald Trump's big tariff day on Wednesday, which also saw gold surging to new highs.
Shortly after the open, London's blue-chip index was more than a percent lower, before retracing some of its losses.
Associated British Foods is the biggest faller, down 3.6% after it revealed the CEO of Primark had resigned with immediate effect, over inappropriate behaviour.
Miners are next, with Anglo American, Antofagasta, Glencore and Rio Tinto all down almost 3%.
John Wood Group also under pressure after the company said a review has identified a number of concerns about its accounts and practices which will require it to delay results to make "material" adjustments to prior year accounts.
And Aston Martin Lagonda is set to raise over £125 million through a proposed investment by executive chairman Lawrence Stroll's Yew Tree consortium and by selling the company's minority investment in the Aston Martin Aramco Formula One team.