Chatter of a fat-finger trade, then exaggerated by the algos, has smashed UK's FTSE 100 lower instantly this morning, dragging major firms with it... *HSBC DROPS 4.8% IN UK TRADING, QUICKLY REBOUNDS TO 2.3% LOSS *BP DROPS 4.7% IN UK TRADING, QUICKLY REBOUNDS TO 1.8% LOSS As with all these plunges, the machines BTFD but the rebound is weak. As Bloomberg noted: *FTSE 100 SUDDENLY DROPS TO LOWS, FALLS 1.9% More desk chatter seems to confirm a massive seller dumped a basket of FTSE 100 stocks at 0744ET Charts: Bloomberg