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* FTSE 100, FTSE 250 down 1%
* Investors sell-off equities for 2nd straight session
* M&S, Ocado down after online food JV
Aug 5 (Reuters) - London’s main index shed 1% in early deals and joined a global market selloff on Monday, as U.S.-China trade tensions sent investors rushing to safe haven assets, while Ocado and M&S slipped after setting up an online food joint venture.
The FTSE 100, which had slumped more than 2% on Friday, sank to a more than seven-week low with all constituent sectors in the red by 0708 GMT. The mid-cap FTSE 250 fell 0.9%.
Retailer Marks & Spencer and online supermarket Ocado gave up about 2.5% each after sealing a deal to set up an online food venture that will result in the termination of Ocado’s current deal with Waitrose. (Reporting by Shashwat Awasthi in Bengaluru; Editing by Anil D’Silva)