Almost inevitably, after a record three month run, the FTSE 100 has run out of steam as investors bank some of their profits.
Sentiment has not been helped by some poor US jobless claim figures, as well as weaker than expected UK manufacturing data, prompting the bears to stick their heads above the parapet again and question the strength of the global recovery.
So, ahead of the widely followed US non-farm payroll numbers due tomorrow, Wall Street has lost around 75 points while the FTSE is down 34.03 points at 5099.87. The forecast for tomorrow, by the way, is for between 170,000 and 190,000 jobs to have been lost. But with today's news that applications for jobless benefits rose unexpectedly last week, it could turn out worse than the forecasts
