London shares fell sharply in early trading as investor confidence was hit by stock prices plummeting across the world, with the FTSE 100 down 73.9 points (1.38%) to 5,288.2 by mid-morning.
Next shares rose slightly, up 9p (0.83%) to £10.91, while British Airways added 1.25p (0.5%) to 251.25 as oil prices continue to ease.
Eurasian shares fell 46p (5.28%) to 826p, while Ferrexpo dropped 10.2p (5.15%) to 187.8 despite higher materials prices.
Wall Street witnessed a major share sell-off on Thursday after new data revealed weakness in the US economy, with the Dow Jones dropping 344.65 points (2.99%) to 11,188.23.
Coca-Cola was the only share on the leading index to make a gain, up just 0.05 (0.1%) to $51.71.
Financials led the decline in US stocks, with Bank of America falling 2.36 (7.16%) to $30.60, closely followed by Citigroup, down 1.31 (6.68%) to $18.30. AIG lost 1.36 (6.02%) to $21.22.
Trading was no better in Tokyo, with share values falling by their largest amount in over a year, and the Nikkei 225 dropped 345.43 points (2.8%) to close at 12,212.23.
Komatsu, one of the largest earthmoving equipment manufacturers in the world, dropped 4.4% to 1,922 yen, while Nintendo shares lost 2.8% to 51,800 yen.
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