Dow Jones dips below 10,000

Markets on both sides of the Atlantic have continued on their downward trajectory amid fears about the economic recovery.

On Wall Street, the Dow Jones slipped 0.43% to 9,997.69 in early trading after the Commerce Department revealed demand for American manufactured durable goods increased by just 0.3% in July, well below expectations.

Meanwhile the FTSE is also in the red and is now 1.03% down at 5,102.94.

Oil companies have been among the big losers, with Tullow Oil seeing its share price fall 7.56% to 1199p, despite earlier revealing a 152% increase in pre-tax profits in H1.

However, Admiral has seen its share price rise 3.05% to 1518p in the wake of record H1 pre-tax profits of almost £127m and a 22% increase in premiums.

The DAX is also down 0.73% to 5,891.84 while the CAC has decreased by 1.37% to 35.71.