Tesco, Sainsbury's and M&S shares take £3.5bn hit amid Asda price war fears

Asda claims to have 'pretty significant war chest' but analyst says it is unclear if it can commit to months of cuts Business live - latest updates More than £3.5bn has been wiped off the value of Tesco, Sainsbury's and Marks & Spencer's stock since Friday amid fears that rival Asda will step up the grocery price war. Tesco, the UK's biggest supermarket, took the biggest hit; its share price was down 10% by lunchtime on Monday, while second-place Sainsbury's was down by about 8%, with Marks & S...