FTSE 100 Live 21 February: Record budget surplus, blue-chips tumble [Video]

Today’s trading in the US will be highlighted by earnings figures for Nvdia, probably the most closely watched stock of the year.

Boosted by AI demand, Nvdia shares are already up 44% this year. The firm is valued at $1.7 trillion, more than half the value of the entire London Stock Exchange.

Take a look at our midday market snapshot, with the FTSE 100 down almost 1%.

The wine and spirits industry has called for a cut in alcohol duty at the Budget, claiming last year’s increases had an “immediate and negative impact” on UK businesses.

The Wine and Spirit Trade Association (WSTA) called on the Chancellor to take action to recover almost £600 million in losses to Treasury coffers, arguing that a duty cut would prevent further inflation-fuelling price rises, support business and boost revenue to the Exchequer.

WSTA said latest HMRC data published on Wednesday suggested the Treasury …