Trading on Wall Street has begun and, as expected, jitters over the financial sector pushed the Dow Jones Industrial Average down by by 52.21 points at 11318.02.
Meanwhile, in a research note Citigroup warned that investors in commodities and energy trade may see their gains unravel if oil prices keep easing. The strategists pointed to coal and coal mining equipment stocks, and steel, engineering and construction stocks.
In a note, it said: "Unfortunately, the likely news flow on economic trends and its impact on demand for energy and commodities plus the equipment used to extract them is likely to come in below lofty expectations."
It added that demand is slowing outside the US, notably in Europe and India, with China possibly next.
