S&P 500

Brent crude oil has fallen to more than a two-year low following a thinktank's move to cut its forecast for global oil demand, while markets were muted overnight ahead of a pivotal US Federal Reserve meeting.

Sterling sold off further overnight, exacerbating Monday's losses, as nervous investors ditched the pound and UK shares on fears Scotland may vote to break apart next week.

Last week, the S&P 500 soared past the 2,000 mark for the first time, surprising those who had expected a reversal of some of the 30% gain seen in 2013.

The S&P 500’s rise and rise

The S&P 500 slipped below its record peak above 2,000 overnight as the Ukraine crisis weighed on markets globally.

The FTSE 100 has moved back above the 6,800 mark for the first time this month as investors take heart from another record high for the S&P 500 yesterday.

The S&P 500 briefly crossed the 2,000 threshold on Monday after US Federal Reserve chair Janet Yellen signalled she will hold back on any aggressive move on interest rates.

Have markets become desensitised to geopolitical conflicts?

US markets continued to edge higher on Wednesday, despite the Federal Reserve's latest minutes suggesting an interest rate hike may come sooner than expected.

Global markets have jumped and oil has hit a 14-month low as geopolitical tensions between Russia and Ukraine show signs of abating.