Markets worldwide suffered on news the US is likely to put an end to its loose monetary policy.
US shares moved lower at opening, exacerbating falls in Europe, as yet more negative jobs data weighed on investors.
Woeful economic data in the US and a three notch downgrade of Greece's credit rating saw global markets tumble overnight.
LV= Asset Management (LVAM) has today launched a US income fund for UK equity fund manager Marcus Chandler.
The dollar has plummeted to a 16-month low against the euro as markets expect the Federal Reserve to signal it will hold interest rates.
A quartet of top asset allocators reveal their favourite US funds.
Ongoing recovery gives managers cause for cautious optimism as Legg Mason Clearbridge US Appreciation stays close to benchmark weightings
US stocks closed lower on Friday despite a strong labour market report for February, as the oil price continued to rise, driven by continuing turmoil in Libya.
Most European bourses look cautiously positive in morning trading ahead of the US non-farm payrolls data for February.
Ongoing disruption in the Middle East and the higher oil price has dragged on global markets, with many seeing losses of more than 1%.