The Dow has failed to consolidate yesterday's gains and is currently down 103.78 points (1.31%) to 7820.78 at 11.25 EDT.
Troubled car manufacturer General Motors saw the biggest rise in share price, up 9.03% to 3.78p.
The FTSE followed the Dow's fall, down to 3,909.66 points by 2.30pm GMT, after reaching a high of 3,950 at 9am.
The biggest falling stocks by mid-afternoon were Eurasian Natural Resources, down 7.4% to 444.5p and platinum producer Lonmin, down 6.16% to 1,410p.IFAonline
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