Afternoon Markets: Dow falls as Fed fears for US economy

Trading has started poorly on Wall Street today, after the Federal Reserve lowered its expectations ...

Trading has started poorly on Wall Street today, after the Federal Reserve lowered its expectations for US GDP this year. The Dow Jones fell 117 points, or 1.39%, to 8,305.04, with both heavy industry and tech firms dragging on the index. Alcoa shares were the biggest loser, down 4.43% to $9.07, while Caterpillar dipped 3.27% to $36.08 and Boeing shares fell 2.65% to $43.40. Poor jobs data is thought to be a key driver. Tech firms also performed badly, with Hewlett Packard down 2.74% to $33.72, while software giant Microsoft saw shares fall 1.8% to $20.01. London shares continued t...