Well that rally did not last long. Wall Street is now heading south and dragging the London market down with it.
Earlier optimism following lower than expected US jobless claims last week has evaporated after news that US sales of existing homes fell 2.7% in July. Which just goes to show that the recovery, if such it is, will not be in a straight line but rather, a bumpy affair. So we can probably expect more volatily ahead.
At the moment the Dow Jones Industrial Average is down around 50 points and the FTSE 100 has fallen 57.12 points to 5082.25.
