A cooling off in demand for insurance stocks dragged the FTSE 100 down by over 0.5% to below 4,360 upon opening this morning.
The biggest gainer was miner Rio Tinto, which climbed by over 10% following the announcement that it would cut 14,000 jobs. This cull, which represents 13% of its workforce, is part of a strategy to reduce the firm's debt by $10bn.
Across the Atlantic, there remains widespread speculation that the US House of Representatives could vote today on a $15bn bail-out of car makers Ford, General Motors and Chrysler.
The Dow Jones closed down 2.72% at 8,691.33; the S&P 500 dropped off 2.31% to 888.67, while Nasdaq fell 1.55% to 1,547.34.
First mentioned in Cridland Report
Second acquisition of 2019
Guy Opperman has rejected calls to speed up changes to auto-enrolment (AE) despite increasing pressure to boost contribution rates and overall savings pots.
Four key areas to focus on
And 94% for critical illness