Update: Tech and biotech hit as FTSE slumps

The FTSE 100 has fallen 1.3% as geopolitical tensions and yesterday's tech sell-off put fresh pressure on UK stocks.

ARM Holdings dropped 4% this morning, while the likes of the International Biotechnology trust were among the largest fallers in the All Share following steep falls for tech overnight. Sentiment took a further hit with the news that Saudi Arabia had begun bombing targets in Yemen. That sent gold, oil higher at the expense of the dollar, with the Japanese yen again appearing to be investors' safe haven currency of choice. The UK's blue chip index, meanwhile, stood 1.3% lower at 6,899 shortly after 11:00 GMT. Overnight, the tech-heavy Nasdaq suffered a sharp fall, posting its biggest...