FTSE slides 1.8% as poor US jobs data hits global stocks

The FTSE 100 and other major global indices are in sharp decline today on the back of poor US unemployment data.

The Dow Jones slumped 1.43% at 10266.82 in early trading, following news jobless claims rose by 12,000 to 500,000 in the week to 14 August.

However, there were some winners including McAfee whose share price rose 57.67% after Intel announced a $7.68bn takeover bid for the security software group.

The FTSE has slid 1.65% at 5,215.17, while French CAC is currently down 1.96% and Germany's Dax is 1.66% lower.

In London, Inmarsat has been the biggest loser, down 4.69%, following UBS' decision to downgrade its rating.

There was better news for chip maker ARM Holdings, which gained 2.61% to 322.4p, in response to better-than-expected forecasts from sector giant Applied Materials. Outsourcing firm Serco also rose by 2.74% to 563p.