FTSE slumps 1.3% on US and Asia recovery fears

In London the FTSE opened down 1.32%, or 68.51 points, to 5,133.05, losing gains made on Friday. Financials were the early fallers. Barclays shares lost 7.7p, or 2.53%, to 296.25p, while RBS was also down in early trading, dropping 2.3% to 42.51p. European stocks were also lower. The German Dax opened down 38.76 points, or 0.65%, at 5,912.41, while the French Cac was down 20.43 points, or 0.58%, at 3487.01. Disappointing personal income and spending data from the US are being blamed. In New York on Monday, the Dow fell 141 points, or 1.39%, to close at 10,009.73. This followed d...