In the UK the FTSE 100 Index continues to fall, losing 14.40 points to 4904.60 points in its morning session.
Brewer, Scottish Newcastle has dropped 14.50p to 464.50p. The firm has said it will not offer a dividend to new investors.
Magazine publisher Emap is down 24p to 811p, after the company said its French unit would remain ``under pressure.''
Legal & General has also retreated 3.25p to 113.50p this morning.
In Tokyo the Nikkei 225 Stock Average declined 0.3% to 11,565.88, after a report from the Ministry of Economy, Trade and Industry revealed industrial output in Japan had its biggest decline in a year, falling 2.1% in February.
The knock on effect is a decline in US consumer confidence with major export firms including Sony slipping 0.9% to 4,240 yen. The company gets a third of its sales from the US.
In the US the Dow Jones Industrial Average fell sharply, down 79.95 points to 10405.70 points at its close late last night.
Caterpillar shed $4.42 or 4.69% to $89.80, after a report from analysts saying that such stocks might have reached a peak.
International Paper also lost $1.08 to $35.74.
Hewlett-Packard meanwhile, added as much as 10% or $1.99 to $21.78.
The computer giant has announced Mark Hurd, the leader of the computer services company NCR Corp as its new chief executive, to succeed ousted Carly Fiorina.IFAonline
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