Markets braced for more turbulence
In the US, the Dow Jones industrial average was down 32.19 points, or 0.2%, at 15,994.86. The S&P 500 was 1.29 points, or 0.07% lower, at 1,852.15. However, the tech-heavy Nasdaq Composite was up 1.77 points, or 0.04%, at 4,285.53.
After picking up yesterday, oil prices fell, dragged lower by the decline across financial markets and by a growing expectation that global demand will not grow quickly enough to erase the overhang of unwanted crude any time soon.
Brent Crude at 4.30pm was 89 cents lower at $32 a barrel. Texas Intermediate was 24 cents down at $29.46.