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Dow opens 300 points down

Where next for the FTSE? The Dow open is often referred to as providing a direction for the blue-chip index, and it has opened more than 300 points down. That is almost a 3% fall.

At the moment the FTSE 100 reaction is slightly more positive – we are down 4.3% now, or 225 points, at 5,064, having been lower earlier today.

The fall in the Dow, which is in line with expectations, seems to have put a bit of a floor under the FTSE price falls.

I mentioned earlier that we have been below 5,000 earlier this year, but we haven’t finished the day under 5,000. The lowest closing price for the blue-chips was 5,007.20 on August 10 – not far away from where we are now. © 2011 Guardian News and Media Limited or its affiliated companies. All rights reserved. | Use of this content is subject to our Terms & Conditions | More Feeds