Having rallied strongly just prior to close of play last night the Dow Jones looks set to finish the week below the 8,000 mark.
Early losers include Bank of America, JP Morgan Chase and Wal Mart which are down 3.75%, 3.59% and 1.99% respectively.
In the UK the FTSE 100 was very slightly up by 0.02% at 3:30pm with financials putting a drag on the index.
Lloyds, Legal & General, RBS, Barclays and Aviva are the top five losers so far shedding 28.60%, 8.96%, 7.08%, 6.48% and 5.83% by 3:30pm respectively.
The falls in both markets have come despite initially improved sentiment following the US Government's plan to subsidise mortgage payments.
The energy sector however has seen a boost today on the back of increasing demand for oil and a subsequent jump in the price of crude oil with BP gaining 1% early.
The price of metal also saw an upturn and BHP Billiton and Anglo American climbed more than 2.4% as copper, lead nickel and tin rose in London.
While Kingfisher, Europe's largest home-improvement retailer, added 3.80% after UBS recommended clients buy the shares.Investment Week
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