Slumping technology giants erased gains on both sides of the Atlantic on Thursday.
In the UK, BT Group, which had earlier warned of a profits hit on its Global Services division, lost 10%, while Vodafone Group also struggled.
At shortly before 3pm, London's blue-chip index, having earlier risen by as much as 2.3%, had fallen to a slim gain of just seven points, or 0.19%.
Lloyds Banking Group, which had climbed 15% earlier on Thursday, fell back a little to 51p, a gain of 14%, but Royal Bank of Scotland (RBS) and Barclays, both early movers, fell out of the reckoning.
However, Standard Chartered, up 6%, Standard Life and Cairn Energy, both up 4%, were having positive afternoons.
In the US, Microsoft slumped more than 7% as the economic slowdown hurt demand for software.
Citigroup and Bank of America, after a little share price respite in recent days, were down again, by 7.4% and 6.6% respectively.
Collectively, the moves served to pull the Dow Jones toward 8,000 again, the index falling more than 153 points, or 1.87%, to 8,074.46.IFAonline
‘Most significant’ upgrade since launch
Changes happening over coming months
Had accepted British Steel business
Aimed at HNW clients and family groups
Set for 1 April 2019