US rally halted as UK remains in doldrums

Wall Street opened lower today, echoing losses seen in European and Asia, as investors took profits from the recent rally.

With high oil prices and slowing Chinese economic growth looming in the background, investors in the US took the opportunity to lock-in some gains, pulling indices lower. The S&P 500 dropped 0.58% to 1,401 points by mid-afternoon, while the Dow Jones slipped 0.57% to 13,163 and the Nasdaq fell 0.63% to 3,059. The losses come after an impressive winning streak for markets. A string of positive economic data surprises, combined with easing eurozone concerns has boosted the S&P index over 11% year to date, and over 27% from its October low. In the UK it was a similar story, with the F...