Morrisons profit cut sparks dramatic sector sell-off
LONDON, March 13
LONDON, March 13 (Reuters) - A sharp cut to the profit outlook of struggling retailer Wm Morrison sparked a major sell off in the shares of British retailers on Thursday, wiping billions of pounds off the value of the sector.
Shares in Morrisons fell 10 percent, while rival Sainsbury's fell 6.7 percent, market leader Tesco slumped 4.1 percent and Marks & Spencer lost 1.7 percent.
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