FTSE falls as Nasdaq drops to five-year low

UK stocks fell this morning in reaction to the Nasdaq's dramatic fall yesterday to a five-year low. Vodafone Group and MMO2 led declines in the aftermath of US trading, along with Prudential, and Pace Micro Technology. The FTSE 100 Index lost 56.6 points or 1.2% to 4629.2 after the Nasdaq dropped 4.1% to its lowest level since June 1997, largely because a widening probe of WorldCom's bookkeeping gave investors more reason to question companies' accounting. Vodafone is still managing to prevent its value from falling any further but has already shed 3.25p or 3.5% to 88.5p, having n...