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Tech stocks plunge LSE to three-year low

Market uncertainty makes investor anxious...
Written by Joey Gardiner, Contributor on

Market uncertainty makes investor anxious...

The London Stock Exchange hit an all time three year low today as technology companies continue to be hit by the fall out of the downturn in the US.

Hi-tech firms led the charge downwards today, spurred on by the continuing woes of Marconi and fall out from HP's takeover of Compaq, which has failed to impress investors.

The FTSE 100 fell 2 per cent to 5,200 points today, into realms unvisited since the end of 1998 - before the hi-tech bubble. Today's falls take the market beneath previous lows in March and July of this year to the lowest value for 23 months.

Tech stocks were undoubtedly the main culprit, with eight of the ten biggest fallers today being hi-tech firms. Marconi made the furthest descent - down 18 per cent by 3pm GMT. Other losers included Telewest, BT, ARM and Energis.

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