Afternoon Markets: Dow dives on US home sales stats

The Dow Jones shed 0.36% in early trading today as sales of existing US homes fell in August for the first time in four months.

  Positive data showing the number of Americans filing new claims for unemployment benefits fell by 21,000 last week failed to buoy the index, which fell more than 35 points to 9,713.41. Industrial groups Caterpillar and General Electric were two of the worst-hit stocks, losing 2.65% to $51.73 and 2.35% to $16.6 respectively. Meanwhile, the FTSE 100 extended earlier losses, dropping 64.84 points (1.26%) to 5,074.53 as property companies weighed on the index. Land Securities, SEGRO and Hammerson are all under the cosh as investors shun the sector following cash calls from Barratt...