Footsie drops sharply, traders point to 'fat finger' error

Losses on London's top-flight index were being ascribed by some media outfits to a 'fat finger' error or an error in an automated trading system.

Shares in BHP Billiton, BP, BT Group, Diageo, HSBC, Wolseley, Vodafone and British American Tobacco were among the affected stocks.

The FTSE 100 fell 121.49 points or 1.96% to 6,065,64.

A spokesman for the London Stock Exchange said it was investigating the sudden move in the index. He added that no trades have been cancelled.

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