A poor day on Wall Street is looming heavily on the FTSE 100 this morning, with the index down 36.3 points, or 0.55%, to 6594.6 in early trading.
Hammerson is leading the losses; the European real estate firm is down 24 points, or 1.73%, to 1366.
Legal & General are also struggling early; it has dropped 2.4 points, or 1.61%, to 147.
Better than expected subscriber figures for the past three months has led to satellite broadcaster BSkyB positing significant gains.
It is the best performer so far, up 23 points, or 3.42% to 695.
In New York, a number of earnings warnings and mortgage market concerns led the Dow Jones to 1.09% drop overnight.
The index fell 148.27 points to 13501.7.
Verizon Communications lost the most ground, it fell 1.5 points, or 3.57%, to 40.52.
American Express didn’t fare much better, sinking 2.14 points, or 3.43%, to 60.3.
J.P. Morgan Chase was one of the investment banks to take a major hit, it fell 1.28 points, or 2.62%, to 47.51.
Caterpillar and General Motors each gained 1.74%; the construction and mining giant was up 1.39 points, to 81.22 – while the car manufacturer added 0.64 points, to 37.41.
Japanese stocks were also affected by the US losses, with major exporters also feeling the pinch of a stronger yen.
The Nikkei lost 203.16 points, or 1.11%, to 18,049.51.
Konica Minolta incurred the day’s largest fall, dropping 69 points, or 3.59%, to 1,853.
Aeon Co also lost, the general merchandise, supermarket and drugstore focused business fell 70 points, or 3.09%, to 2,195.
Tokai Carbon had a strong day; it finished up 58 points, or 4.7%, to 1,291 – while Toshiba also gained, up 48 points, or 4.46%, to 1,125.
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Two global vehicles
'Further plug advice gap'
Must appoint separate CEOs and boards
Advisers do come out well
Will report to Mark Till