US bank charges send FTSE 100 tumbling

News of a shock fraud charge lodged against US investment bank Goldman Sachs sent London’s FTSE 100 Index plunging into the red today.

The Footsie tumbled by 1.7% at one stage in late afternoon trading after America’s Securities and Exchange Commission accused the Wall Street giant of defrauding investors in its disclosures about securities sold that were tied to sub-prime mortgage securities.