London's leading share index has plunged to a five-year low in early trading after heavy falls across Asia saw the sell-off continue apace.

The FTSE 100 dropped by more than 200 points at one stage - down 5% - taking it to levels not seen since March 2003.

Sentiment was hit by steep overnight declines across Asia, with Japan's Nikkei index falling 6.4% to hit its lowest close since 1982.