Economics / Markets

The Dow is marginally up despite US consumer confidence plummeting to its lowest ever.

Stockmarkets around the world plummeted on Tuesday following staggering overnight losses on Wall St.

The FTSE's bright early start has evaporated this afternoon with 3i and Rolls-Royce blighting a strong session for financials.

The Dow Jones fell to its lowest level in more than six years last night as some US banks plummeted.

The FTSE 100 was up a fraction in early trading after falling to a three month low at the end of trading on Wednesday.

Markets fell in London today as US investors mulled a further request for aid by the car industry.

The Dow Jones closed 297.81 points (3.79%) down last night at 7552.60 after news of further job cuts and government borrowing from Chrysler and General Motors (GM).

Financials rallied in early trading following the sector's drag on the FTSE 100 yesterday, as Legal & General, RBS, Lloyds Banking Group and Barclays spurred forwards.

Financials have experienced a torrid time this afternoon on the FTSE 100 with major players such as Legal & General, Prudential and Aviva all suffering. By 3.25pm, the index was down 27.77 points (0.66%) to reach 4,161.8.

Further selling of financials characterised London's leading stock exchange on Monday with the index down more than 24 points, or 0.6%, to 4,164.