FTSE 100

The FTSE 100 has seen its longest losing streak in eight years as investors continue to sell-off shares amid fears over the state of the eurozone.

3.10pm: US markets have shrugged off poor third-quarter GDP results with trading muted early in the session.

Investors should have been buying portfolios of gilts, treasuries and bunds, as well as commodities, while avoiding major indices, to maximise returns in 2011.

Asian stocks fell overnight alongside US indices after a congressional committee in the States charged with reducing the nation's deficit failed on Monday to agree on cuts.

US shares plunged at opening ahead of an expected announcement politicians have failed to agree a deal to cut the US' sprawling budget deficit.

Global markets were spooked by Spanish bond yields spiking to near-critical levels, with many indices posting losses of more than 1% overnight, and the FTSE 100 opening 1% lower this morning.

Schroders' Richard Buxton has warned investors the chances of the FTSE 100 breaking through the 6,000 level within the next 12 to 18 months is remote.

US and European markets rallied late Friday as Italian policymakers approved new austerity measures, a move which should help pave the way for a new government.

Markets across Europe recovered from early losses on Thursday despite a new warning from the EU Commission that the eurozone may fall into recession next year.

The FTSE 100 dropped sharply mid-morning as investors fretted over the future of Italy following a spike in the country's bond yields to record levels.