Ouch -- it's been a bad day for the FTSE 100

It’s been a bad day for the FTSE 100.

London’s top stock market just closed down 1.5%, or 101.73 points lower at 6667.34, and it’s been in the red all day. The Footsie is now at a new 1-month low.

FTSE 100Google FinanceThe FTSE 100 had a big drop at the open and never recovered.

The index is being weighed down by ARM Holdings and miners. Despite strong results from microchip maker ARM, the company tanked 6.6% after disappointing iPhones sales numbers from Apple overnight. Apple is an ARM customer.

ARM HoldingsGoogle FinanceARM Holdings is the day’s biggest faller on the FTSE 100.

Mining companies have also ended the day with big losses. The biggest faller was BHP Billiton, down 5.2% after warning of big writedowns due to the falling oil price and the demerger of South32 earlier this year.

Investors also dumped other mining stock, with BHP Billiton not helping the mood in a sector still reeling from the slump in the gold price on Monday.

NOW WATCH: The ‘Uber of helicopters’ can get you from Manhattan to JFK for much less than you think

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.