Markets jittery ahead of US reopening

NEWS European stocks were down this morning as traders wait for the New York stock exchange to reopen after its longest closure since 1933. Markets are expected to take a further nosedive when trading begins at 14.30(BST), after traders observe two minutes' silence. The FTSE is currently maintaining Friday's low, down 0.56 per cent. The index dropped 6.7 per cent last week - its worst decline since November 1987. In Frankfurt the Dax is down 1.47 per cent and the CAC40 has dropped 1.96 per cent. London's TechMark is down 2.74 per cent. However, this afternoon's market downturn is expected to be short-lived as investors display confidence by holding on to in US equities.