Markets: another big fall for the FTSE 100

Markets took a big hit yesterday as the oil price fell further and investors worried about Greece leaving the eurozone. The FTSE 100 fell 2% to close at 6,417.

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  • FTSE 100 down 2 % to 6,417
  • Gold up 1.31% to $1,204.82/oz
  • £/$ - 1.5250

FTSE 100

Energy and commodity stocks were the worst performers. BP slid 5.1% and Royal Dutch Shell lost 4.8%, while miners Anglo American and Glencore each shed 4.9%. Oil services firm Weir was the day's biggest faller with a 6.3% slide.

In European markets, the Paris CAC 40 fell 141 points to 4,111, and the German Xetra Dax lost 291 points to 9,473.

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In the US, the Dow Jones Industrial Average fell 1.9% to 17,501, the S&P 500 lost 1.8% to 2,020, and the Nasdaq Composite slid 1.6% to 4,652.

Overnight in Japan, the Nikkei 225 fell 3% to 16,883, and the broader Topix index lost 2.9% to 1,361. And in China, the Shanghai Composite rose one point to 3,351, and the CSI 300 was unchanged at 3,641.

Brent spot was trading at $52.44 early today, and in New York, crude oil was at $49.43. Spot gold was trading at $1,209 an ounce, silver was at $16.30 and platinum was at $1,209.

In the forex markets this morning, sterling was trading against the US dollar at 1.5229 and against the euro at 1.2764. The dollar was trading at 0.8381 against the euro and 118.93 against the Japanese yen.

And in the UK, the number of first-time homebuyers has risen to its highest level since 2007, according to the latest figures from the Halifax. 326,500 people bought their first home last year, up 22% on 2013.

David Stevenson, former MoneyWeek writer and director of The Fleet Street Letter, believessilver could be about to start a record climb. Click here(capital at risk)to read about the three irresistible forces David believes could push the price of silver through the roof.

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