Afternoon markets: Wall Street declines weigh on FTSE

US shares dropped almost 1% in early trading as a fall in commodities prices drags on the benchmark Dow Jones.

The index dipped almost 1% to 9,729.51, with US aluminium giant Alcoa leading the losers, down almost 3% to $13.65. It was followed by Du Pont, off 2.16%, and industrial bellwether Caterpillar. Financials also took a hit, with Bank of America and American Express down more than 2%. In the UK, reports that Royal Bank of Scotland is considering tapping shareholders for cash to avoid the Government's expensive Asset Protection Programme put more pressure on the FTSE, which was down more than 1% to 5,111.43 at just after 3:30pm. Almost 7% was knocked off the value of RBS shares, whi...