Dow Jones

Updated: The FTSE 100 got off to a weak start on Friday but stablised by mid-morning following efforts in several European countries to calm volatility in share trading.

The FTSE opened more than 2% higher on Thursday after the Dow Jones shed 520 points lower in overnight trading amid concerns that France would become the next economic superpower to lose its AAA rating.

Global markets have slipped back into the red after the Dow Jones posted heavy losses on the opening bell, as fears of a double-dip recession intensify.

The FTSE 100 climbed this morning and Asian and US markets rallied strongly overnight as the Federal Reserve announced it would hold interest rates at close to zero until 2013.

US markets have opened higher after a calmer atmosphere saw the FTSE 100 recover the day's losses.

Update (1:07pm): The FTSE briefly joined the bear-market club on Tuesday before regaining most of the day's losses as global markets continue to experience extreme volatility.

Update 4pm: Heavy losses in the battered US markets have spread to the UK and sent the index of 100 leading shares down 3.3%.

The FTSE 100 is now in the black in early trading after falling 1% on opening, after S&P's downgrade of US debt sparked a further share sell-off across the globe.

The national newspapers spared front-page column inches to talk of a 'Credit Crunch 2' on Friday after a global sell-off wiped trillions off the value of equities worldwide.

Updated: The FTSE dropped more than 3% in the first six minutes of trade on Friday as it tracked US and Asian markets sharply lower amid the ongoing global sell-off.