Footsie slides 89 points to 5427 with losses for tech stocks

The FTSE 100 lost 89.3 points to close at 5427 to clock up its second lowest close since 22 March when the index closed at 5314. Last week the index fell to 5391.9 but soon recovered only for it head-south again today. It's difficult to see where the next gain for the Footsie will come from considering the market's losses since the New Year when it sat at the lofty heights of 6200 - the index has lost 20% since January. Telecommunication and technology stocks continue to make investors nervous and lead the Techmark index further down. The UK technology focused index today closed a...