Technology stocks hammered by US news

The Footsie index of 100 leading shares has plunged 84.8 points as a series of warnings from technology groups in North America led to a sell-off in the sector. The index now stands at 6113.1.

Investors in the UK had been bracing themselves after Canadian group networking equipment maker Nortel Networks halved its earnings forecast and said it would be cutting 10,000 jobs, citing the sharp downturn in the US economy.