FTSE falls 1% as Irish debt fears hit global shares

The FTSE 100 opened down 1% this morning following sharp falls across most global markets on fears the Irish debt crisis could spread to other European countries.

London's leading index of shares was down 1%, or 58.79 points, to 5,622.62 just after opening. Miners were the main drag on the index, falling on expectations of a slowdown in China's economic growth. Vedanta Resources lost 2.57% to £21.64, Xstrata was down 2.19% to £12.70, Kazakhmys fell 1.94% to £14.12, and Rio Tinto was down 1.74% to £41.12. European markets also opened lower. The German Dax fell 0.45% to 6791.35, while the French Cac 40 was 0.69% lower at 3,792.53. In the US the Dow Jones index closed down 0.22%, or 24.97 points, at 11,178.58. All major stock indexes in A...