FTSE tumbles to lowest level in a month on Fed action

(Updated) The FTSE 100 was well below 5,100 late morning as investors sold off shares following the Fed's latest move to stimulate the US economy.

The FTSE 100 was down 241 points, or 4.6%, by 11:34am, at 5,057. If it ends the session at this level it will be the lowest close since 19 August when it finished the day at 5,041. Shares are being sold off across the board, with no risers at all in the blue chip index. Miners were the worst affected stocks, off around 10%. Elsewhere, both the German Dax and the French Cac are off about 4%. It follows an announcement by the Federal Reserve last night, following its two-day meeting. The central bank announced it will buy $400bn worth of long-term government bonds and sell shor...