Yesterday's close: FTSE 100 down 1.6% at 5,353
Gold down 1.4% at $1,096
£/$ - 1.6257
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London stocks tumbled yesterday with banks and miners dragging the FTSE 100 down 1.6% to close at 5,353.
Banks, already performing poorly, were pushed lower late in the afternoon as Barack Obama outlined tougher restrictions on financial institutions' size and operations. RBS was the day's biggest loser, down 7.1%, while Barclays fell 5.9% and Lloyds was 5.7% lower.
Miners, already suffering from lower metal prices, were hit by reports of a new tax
in Australia. Anglo American lost 6.2%, while Rio Tinto fell 5% and BHP Billiton shed 3.1%.
Among the few stocks in positive territory were pharmaceuticals and utilities. AstraZeneca added 1%, United Utilities gained 3.2% and Severn Trent was 1.8% higher.
Highest climber of the day was British Airways, which rose 3.6% after cabin staff confirmed they would not be striking over Easter.
Read the latest stock market news and charts here.
Europe
In Europe, the Paris CAC 40 fell 66 points to 3,862; and the German Xetra Dax was 105 points lower at 5,746.
US
In the US, the Dow Jones Industrial Average fell 2% to 10,389; the S&P 500 lost 1.9% to 1,116; and the Nasdaq Composite was 1.1% lower at 2,265.
Asia
Overnight in Asia, Japan's Nikkei 225 fell 2.6% to 10,590, while the broader Topix index lost 1.6% to 940. In China, the Shanghai Composite index slid 1% to 3,128; and the CSI 300 closed down 1.2% at 3,366.
Commodities
Brent spot was trading at $74.19 early today, and in New York, crude oil was at $76.26. Spot gold was trading at $1,096 an ounce, silver was at $17.42 and platinum was at $1,563.
Currencies
In the forex markets this morning, sterling was trading against the US dollar at 1.6257 and against the euro at 1.1503. The dollar was trading at 0.7077 against the euro and 90.23 against the Japanese yen.
UK news
And in the UK, there was a warm reception for Barack Obama's plans to limit the size and trading activities of banks. Financial Services Secretary Lord Myners said: "What President Obama is suggesting is very much in accordance with the direction we have been setting." And the Tories' finance spokesman, George Osborne, said: "This is a welcome move by President Obama that accords very much with our thinking".
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