Afternoon Markets: US markets fall for second day

Unemployment data and poor factory orders caused US stocks to fall for a second day. Concerns that...

Unemployment data and poor factory orders caused US stocks to fall for a second day. Concerns that rising borrowing costs will make it difficult for firms to secure financing also dragged on the markets. The S&P 500 was down over 2% and the Dow Jones 1.8%. Claims made by jobless US citizens reached a seven-year high and factory orders tumbled in August, according to latest figures. In the UK, however, the FTSE 100 was up 1.3% as the Senate approval of the US bail out plan soothed investors. Shares in HBOS surged amid confidence that the takeover by Lloyds TSB will go ahead after days...