date:Mar 14, 2014
told Reuters that banks in the world's No. 2 economy and top metals' consumer have cut lending in some sectors by as much as 20 percent.
The drop in mining stocks dragged the FTSE down through chart support at 6,580, which corresponds to its 200-day moving average, triggering automated sell orders from technical traders.
Geopolitical risk (is) overtaking market technicals, Ed Woolfitt, head of sales at Galvan, said.
The FTSE 100 rose 14.4 percent in 2013, its best annual gain since 2009. It r