The gloomy weather got to the market in the end, and the leading index has closed down 70.8 points at 5629.1.
Miners are among the biggest fallers, hit by fears that a US recession will lead to weaker demand for metals. Five out of the top 10 losers in the FTSE 100 are miners, with Antofagasta down 58.5p to 728p and Kazakhmys 112p lower at £15.51.
Housebuilders were shaken by downbeat comments from Bovis Homes, down 71.5p at 506p. So Taylor Wimpey, which is on course to be ejected from the top 100 index at this week's reshuffle, fell 11.2p at 161.5p.
There was a brief flurry of excitement shortly before the London market closed, as rumours went round Wall Street that a major investment firm was facing liquidity problems due to its sub-prime exposure. In the current climate, this is entirely plausible, of course. But after a kneejerk reaction, the Dow Jones industrial average now seems to have regained most of its poise.
Helping the recovery was a denial by Bear Stearns, mentioned as one of the possible firms in trouble, that it was facing a liquidity crisis.
