Another thing you'll notice is that the voltage you read depends upon the type of meter. As noted above, the high input impedance (typically 10 meg) of a digital meter results in a high reading.
If you swap over and measure using a traditional analog meter with a lower input impedance, you'll find that the reading drops substantially. In fact, because the input impedance of the meter varies from range to range, you'll find that the apparent voltage drops each time you switch to a lower range.
Where the voltage is caused by capacitive coupling due to proximity to an energized conductor, you're effectively forming a potential divider with that capacitance and the resistance of your meter.
[This message has been edited by pauluk (edited 01-09-2003).]
