Technology stocks get a hammering

The FTSE-100 index of the UK's top companies has fallen 90.2 points.

It now stands at at 5528.3 after profits warnings and worries about China hit stocks in the US overnight.

The tech-led Nasdaq Composite lost more than 3% after profits warnings from a series of smaller companies and traders worried that the diplomatic row with China would dent trade.

The worst hit in London is Logica, down 8%, or 78p, at 892p and CMG, off 59½p at 510p.

Marconi's heavy losses continue, falling 33p at 309p, while fellow telecoms equipment firm Spirent has slumped 11¾p at 344¼p.

Telecoms issues are also down. Cable & Wireless are 14p down at 476, while BT has lost 12p at 488p and Telewest was down 4½p at 104½p.

But the biggest casualty is Railtrack, which has followed its 17% slide yesterday with a further 12% drop, down 71p at 499p.

Pressac is down 31%, or 30½p, at 67½p after warning its results for the year would be affected by the slowdown in the mobile phone industry.

Gameplay has fallen 25%, or 6p, to 18p, as it said it was considering the future of two of its divisions.

Recognition Systems, a marketing and database software systems company, has also issued a profits warning because of the US slowdown. Its share price have slumped 68%, or 78½p, at 36p.