Shares on Wall Street have recorded the worst three-day streak since 2011 after another sharp move lower overnight, with investors continuing to fret over the end of the US Federal Reserve's bond buying programme.
The S&P 500 slipped below its record peak above 2,000 overnight as the Ukraine crisis weighed on markets globally.
The FTSE 100 is on course for its worst day in four months as nervous investors begin August in cautious mode.
The US' two main markets climbed to record highs on Thursday, driven by better than expected jobs data.
Impending US employment data expected to show a further improvement in the country's economy sparked gains for equity indices around the globe overnight.
Japan's Nikkei index slid for the second day in a row on Tuesday, after weak economic data in the US made investors wary of taking on risk.
The FTSE 100 was lower once again during afternoon trading as the blue chip index continues to retreat from its recent peak above 6,800.
The US Federal Reserve surprised investors and sent shares soaring after it unexpectedly opted to hold back on any tapering of its stimulus last night.
Shares in Apple have plummeted more than 5% this afternoon, after a disappointing reception for the tech giant's two new iPhone models released last night.
Goldman Sachs, Visa and Nike are to join the Dow Jones Industrial Average (DJIA) index later this month in the largest shake-up for almost a decade.