FTSE slides on Japan radiation fears

UK shares fell nearly 2% at opening after a third explosion at the Fukushima nuclear power plant in Japan sent the Nikkei tumbling overnight.

The FTSE 100 was trading at 5,670 initially, shedding over 100 points in early trading. The drop follows a third explosion at the Fukushima power plant which bought the threat of a nuclear disaster one step closer. Among the losers were Burberry, the luxury goods retailer which has a thriving business in Japan. The stock was down 4.1% at £10.77. JPMorgan's Asian investment trust was also down 4.1%at 210p. Shares in Japan tumbled more than 1,000 points to close down 10% lower at 8,605.15 in reaction. At its lowest point the Nikkei was down over 14%, having already lost 7% on i...