FTSE drops again after Dow sheds 150 points

European equity markets have extended this week's losses at the open on Friday, after US stocks closed lower overnight, dragged down by the ongoing Greek crisis.

Greece's failure to form a coalition government has sparked speculation over its possible exit from the single currency, causing investors to fear a run on some other banks in the region. European equity markets fell close to 1% at the open, while German and UK benchmark bonds once again reached record lows as investor nerves continued. In the US, the Dow Jones Industrial Average closed down for the 11th time in 12 sessions, lower by 156 points or 1.54%, while the S&P 500 slumped 1.51% to close at 1,305.  Meanwhile, Asian markets dropped overnight, with the Nikkei down 3% and the H...