Economics / Markets

The FTSE 100 plummeted below 4,000 this afternoon as US stocks open sharply lower in early trading.

The FTSE 100 has opened flat this morning despite another strong start for the banks, with London's blue-chip index remaining at its Friday close of 4,092.80.

US markets experienced a volatile morning as tech firms fell back and Citigroup announced it had made a profit for the first time in almost two years. The Dow Jones was up 21.03 points (0.26%) to 8,146.46.

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In London, markets climbed again in early trade, with the FTSE100 up 27.17 points (0.67%) to 4,080.15.

The FTSE 100 climbs 10.68 points (0.27%) this morning to 3979.08, led by the Government's bailed-out banks.

The Dow opened at 7,915 points, down five from yesterday's close, and fell to 7,870 before rallying to 7,905 by around 9.30am Eastern Central Time.

The FTSE 100 has dropped more than 13 points (0.35%) this morning to 3,975.18 after financials and property companies dragged the index.

London markets slid further as Wall Street opened for business, with the FTSE100 down 23.14 points (0.58%) to 3,960.57.

London shares climbed in early trading, with the FTSE100 index up 12.79 points (0.32%) to 3,996.5.