FTSE plunges after Obama's last-minute deal to avoid debt is soured by poor U.S. manufacturing figures

Daily Mail
*FTSE was up more than 82 points this morning - but then tumbled
*By mid-afternoon index was 22 points DOWN on the day's starting point
*Obama hoped deal would 'end crisis and remove cloud over the economy'
*Agreement will cut about $1trillion in U.S. spending over 10 years
*Another $1.2trillion would be cut automatically if a joint committee fails to find at least that much in budget savings
*Frantic behind the scenes lobbying expected on Monday to get deal ratified