HSBC leads FTSE drop

HSBC Holdings has lost 1.5% to 929p after its stock recommendation was cut to "in-line" from "outperform" by analysts at Goldman Sachs on concern about the outlook for profit in the US. Royal Bank of Scotland Group has retreated 1.2% to 1,716p, while Barclays has fallen 1.2% to 590.50p. UK mining stocks have also fallen on concerns falling demand for gold jewelry in India and the Middle East may cause the metal to drop. Anglo American has fallen 1.5% to 1,986, Rio Tinto has dropped 1.3% to 2,837p and BHP Billiton has fallen 1.1% to 1,009p. Meanwhile, Vedanta Resources, India's l...