Update: FTSE falls 4% on China fears

The FTSE 100 opened almost 200 points, or approaching 3%, lower at just over 6,000 points on 24 August before recovering slightly. However, by 12.45pm the index was more than 4% lower at 5,929. Meanwhile, the German Dax was 4.2% lower while the French CAC slumped 4.5%. It followed continued sharp falls overnight in Asian markets as concerns over China's economy unnerved investors. China's mainland benchmark index, the Shanghai Composite, fell more than 8% to 3,211.82 points, extending last week's losses. Elsewhere, the Hong Kong Hang Seng declined 4.9% to 21,313.28, while the...