FTSE 100 falls into correction territory as shares hit seven-month low

Blue chips fall to lowest point since January

The FTSE 100 closed yesterday at its lowest level since January - dropping into correction territory - and continued to tumble in early trading as mining stocks dragged on shares.

On Wednesday, the FTSE 100 finished trading at 6,403; its lowest point in seven months when the blue-chip index hit 6,388 on the 14 January. Miners were the main laggards with commodity giant Glencore's 8% share price fall, following poor results, having a knock-on effect on miners Rio Tinto, Anglo American and BHP Billiton, which all fell around 4%. This morning, the FTSE 100 dropped a further 0.5%, touching 6,359, before recovering some of its losses to trade down 0.3% - the index was at 6,382 at 10.45am. The UK's benchmark index hit 7,000 for the first time ever in March and wen...