S&P 500

The FTSE 100 index rose by 0.7% to 5063.7 points in early trading led by Royal Bank of Scotland, which edged closer to significant asset sales.

BlackRock vice chairman and chief equity strategist Bob Doll has called an end to the worst of the current equity market correction.

Updated 12.30pm: The FTSE plunged in midday trade after Chancellor George Osborne unveiled details of the coalition government's £6.2bn spending cuts.

US markets plummeted almost 4% yesterday as the fallout from the eurozone crisis continued to escalate.

Markets are again seeing a volatile trading day following Germany's ban on naked short-selling in European public debt, as well as shares in the country's 10 largest financial institutions.

On another volatile day for global markets, Investment Week keeps you up to date with all the changes across the asset classes.

NORTH AMERICA

Profit taking saw the FTSE 100 fall 1.3% to 5316.22 points this morning, negating some of its 5.2% rise on Monday.

Several European ETF issuers will be able to launch ETFs on the S&P 500 index as of 17 May, when Standard and Poor's exclusive arrangement with iShares ends.

Miners fell sharply this morning on news the Australian Government plans to introduce a new 40% tax on resource projects from July 2012.