FTSE extends losses as Dow sheds 200 points at open

Investors across Europe and the US are in flight-mode this afternoon, with US markets opening sharply lower as the weak corporate earnings season continues to plague sentiment.

US markets fell after the opening bell, with the Dow Jones Industrial Average off 1.4% at 13,161 points, and the S&P 500 down 1.3% at 1,414. The losses come amid a tough day for investors in Europe, where the FTSE 100 and other major indices are also down over 1%. The FTSE 100 is off 82 points at 5,800, a low point on the day, with miners among the biggest losers as the risk-off mood in the market hits cyclicals. Burberry also remains in the doldrums - 3.7% weaker at £11.29 - after fellow luxury goods brand Mulberry saw its shares plunge 21% on missed profit forecasts. In Europe...