Dow Jones drops 200 points on the open as commodities rout worsens
The commodities rout continues, and now it is weighing on US stock markets, after the US Dow Jones fell over 200 points as the markets in America opened.
Within the first five minutes the Dow Jones fell over one per cent, but has recovered slightly to be trading 0.97 per cent down, at 17,557 points.
Read more: FTSE 100 index opens lower on miners (again)
Weak Chinese trade data released today, in combination with falling oil prices, led the US market to open lower.
Oil firms including Chevron and Exxon Mobil are leading the losses, down 1.58 per cent to $85.94 per share and 2.27 per cent to $75.06 per share respectively.
Read more: Brent crude crashes below $40 for the first time in seven years
Meanwhile, Brent crude fell by more than two per cent – and below $40 a barrel.
In the UK, the FTSE 100 is trading 1.39 per cent down to 6,136 points, led lower by miners.