The FTSE 100 fell to below 9,200 on Friday, extending losses for the fourth consecutive session, weighed down by banks. Shares in NatWest (-5.1%), Lloyds (-3.1%), and Barclays (-2.2%) dropped sharply after an influential think-tank proposed a windfall tax on banks, echoing a policy from the Thatcher era. In the run-up to the autumn budget, the Institute for Public Policy Research (IPPR) has proposed a tax on commercial banks to capture a portion of the profits they gained from quantitative easing, citing the policy’s "unintended consequences". Bucking the trend, Prudential, Rentokil Initial saw gains of around 2.5% each. Meanwhile, global sentiment remained cautious after the latest economic data continued to reflect stubborn inflationary pressures in the US economy, clouding the Fed's rate outlook. The UK index closed the week 1.3% lower, yet still up 0.7% for the month of August.