US figures fuel further sell-off

With markets plummeting, investors were probably hoping the US might provide a bit of positive direction. Not so: US inflation figures have come in ahead of expectations, at 3.6% year-on-year (consensus expectation was 3.3%); and jobless claims rose to 408,000 for the week to August 13, when consensus estimates expected 400,000. That has chucked a bit more fuel onto the fire - the FTSE 100 is now down 2.6%, 138 points down. The Dow is expected to open 203 points down, which would be a fall of 1.8%. The only UK FTSE 100 equity investors with anything to smile about are those holding Randgold and Associated British Foods - the only two stocks up in the sell-off.