Hays Leads Drop in Recruitment Stocks as It Flags Tough Market

Hays Plc’s shares fell to their lowest levels in almost 17 years after the British company reported weak activity in the fourth quarter, citing “broad-based weakness” in permanent recruitment markets globally caused by macroeconomic uncertainty.

The stock dropped as much as 20% in London, the sharpest intraday decline since June 2016 and touching the lowest since October 2008. The weakness rubbed off on peers, with Pagegroup Plc tumbling as much as 8.7% and Randstad NV and Adecco Group AG also sliding.

Governments and companies worldwide are struggling to assess the impact US President Donald Trump’s trade tariffs will have ...