UK stocks slump again as FTSE losses mount

The FTSE 100 has shed 40 points in early trading to move back towards the 6,400 mark, compounding losses suffered in recent days.

The index was down 0.6% at 6,425 in morning trading, following a 0.5% fall on Monday and a 1.3% fall last week. Those drops have all been pinned on investors' concerns over a forthcoming slowdown in quantitative easing in the US, with the Federal Reserve now expected to announce a 'tapering' of QE at its September meeting. The UK's blue chip index is now down 3.2% on a one-month view, though it remains up 8.8% year-to-date. Today's fall was led by energy services company Wood Group, which shed 10% on a warning that project delays and a weakening Canadian business would hurt earning...