The FTSE 100 was down 0.42% or 25 points by mid morning today, having bounced back modestly on opening from yesterday's two-week low.
Early support to market came from robust precious metal prices, which boosted miners.
All miners rose and together added nearly 12 points to the FTSE 100 as platinum hit a record high and gold flirted with its all-time peak.
Gold is expected to hit $1,000 an ounce this week as investors flock to snap up the commodity seen as a safe haven during times of economic uncertainty.
Lonmin added more than 2%, Vedanta rose 1.6% and BHP Billiton gained 1.7%.
Shares in Rio Tinto jumped 1.3% after its chief executive, Tom Albanese said growing Chinese demand for metals should more than offset any problems cause by a slowing of the US economy.
UK fund firm Schroders also provided an early lift for the market after it announced higher-than-expected profits for last year.
However, it added that it was bracing itself for a tough trading year as market volatility continues.
Analysts are not expecting a rally in the FTSE 100 today as the market eyes Thursday's interest rate announcement by the Bank of England.
It is widely expected that the monetary policy committee will leave borrowing costs unchanged at 5.25% as it focuses on rising inflation pressures against signs that the economy is slowing.
As negative news continues to flow out of the US, analysts are expecting European stock markets to take a hit.
