The Dow Jones plummeted in early trading today as commodity prices continued to fall.
At 10:50am, the benchmark index had more than reversed Friday's minor gains, sliding 197.63 points (2.25%) to 8,601.63.
Stocks leading the losses included aluminum producer Alcoa, down 5.18% to $11.37, and Caterpillar, which slipped 3.71% to $36.33.
The price of oil has also dropped to about $3 to $71 a barrel, as the dollar rose and violent protests continued in Iran, an Opec member.
Meanwhile, London's benchmark FTSE 100 has failed to recover from the early morning losses. By 3:47pm the blue-chip index had dropped 90.02 points (2.03%) to 4,351.93.
Lonmin lost the most ground, down 9.85% to £12.99. Vedanta Resources also fell 6.25% to £14.99, while Rio Tinto slipped 6% to £29.29.
Lloyds Banking Group was the main gainer in afternoon trading, up 3.37% to 67.50p.IFAonline
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