FTSE has a rough morning

It's not the only one...

Stocks in London got off to a bad start this morning following spiralling trade on the Nasdaq yesterday evening. London's FTSE100 was down by 1.8 per cent on yesterday's close to just over 3,900 and the FTSE Techmark began the day down 0.7 per cent at almost 730 points. Weakness in the US service sector pushed the Nasdaq down 3.4 per cent at its close yesterday and the Dow Jones Industrial Average down by 3.2 per cent. Shares in Ericsson plunged on negative analyst comments about the telecoms equipment manufacturers' state of health to close over 17 per cent lower yesterday at 52p.