FTSE has biggest tumble since 7/7

It was the index's biggest daily points fall since the bombings in London on 7 July when the benchmark shed 70 points. Then benchmark was hit by concerns over inflation in the US and as a result of several large stocks, including BP and PartyGaming fell after analyst downgrades. The drop was sparked by comments from a Federal Reserve official, triggering concerns over rising interest rates and the impact they could have on business costs and consumer spending. A weak Wall Street performance for yet another session also weighed on sentiment. PartyGaming fell 7.5p, or 8%, to 86.25p after a...