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The world number one was out of sorts but it still took a brilliant display from 18-year-old Gasquet to beat him.

Having wasted two match points, Gasquet saved three himself in a dramatic third-set tiebreak before sealing it with a brilliant backhand pass.

Gasquet joins Marat Safin as the only men to have beaten Federer this year.

Defeat ends Federer's hopes of becoming the first man to win three straight Masters titles.

The 23-year-old later admitted the added pressure of his long winning streak had contributed to his defeat.

It's difficult to take in what has happened and where I am Richard Gasquet

"It's not easy waking up every morning having to defend the streak - I feel like I've been playing history not just my opponents," he said.

"He definitely played a great match. In the second set he was hitting clean winners off both sides.

"He was taking the ball early and taking his chances."

It was an emotional victory for Gasquet, who served notice of his potential at the Monte Carlo event three years ago.

Aged 15, he became the youngest person to come through qualifying and then won his first-round match but until now, his progress had been disappointing.

He came into the tournament ranked outside the top 100 but now goes on to face fellow teenager Rafael Nadal for a place in his first Masters final.

"It's a fabulous win," said the 18-year-old.

"When I won the match, it took me a few minutes to realise I had won.

"It's difficult to take in what has happened and where I am but I know that I have to keep going in the semi-final and play the same way against Nadal."

Hopefully this will make Federer realise he has a lot of work to do if he's going to even contend for the French Open From Logic1 Have your say on Five Live

The Frenchman looked to have let his opponent off the hook when he wasted his first match point at 5-3 in the third set.

He set up the point perfectly, but swung wildly at a simple volley and saw it sail yards beyond the baseline.

He earned another chance in the next game but Federer demonstrated his trademark cool to put away an overhead. The teenager's shot at glory looked to have gone, but in the tiebreak, a below-par Federer twice found the tramlines on match points, while Gasquet saved another with a huge serve.

And on his third opportunity, Gasquet, roared on by the crowd, made no mistake, unleashing a superb backhand down the line.

Nadal booked his place in the semi-finals with a crushing 6-3 6-0 victory over French Open champion Gaston Gaudio.

In the other semi-final, a resurgent Juan Carlos Ferrero will face Guillermo Coria.

Spaniard Ferrero, who has slumped to 69 in the world after a year of injuries and illness, came through 6-2 6-3 against Filippo Volandri.