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The drop - by 43.82 points - was in deep contrast to the 6.5 per cent gain that the index had made over the last seven days as it closed on its highest level since April 30th, Reuters reports.
David Buik, senior partner at BGC Partners, said the value of the banking sector had decreased due to uncertainty.
He added: "The sooner it is accepted that agreeing globally on bank regulation and taxation is a non-starter, the better for all concerned."
One of the biggest movers was the 3.1 per cent drop made by Barclays following the appointment of Bob Diamond, head of its investment and wealth management business Barclays Capital.
Yesterday morning saw the FTSE 100 climb by 0.3 per cent partly because of a better-than-expected US jobs report on Friday, the news provider stated.
Posted by Greg Secker
