The Dublin market was down almost 3 per cent this afternoon to under the 7,000 mark again at 6845 with the major financial stocks leading the way down.
With the likelihood of Minister for Finance Brian Cowen reducing stamp duty rates in tomorrow's Budget receding, the banks and building focused stocks were among the fallers.
Shortly after noon Bank of Ireland was down 55 cents on €9.55, a drop of over 5 per cent while Anglo Irish Bank shares have slipped 76 cents to €10.69.
AIB shares have fallen 65 cents to €14.58, a decline of over 4 per cent. Grafton and Kingspan shares were down almost 2 per cent and 4 per cent respectively on €5.84 and €13.76.
What little positive news there was came from oil and gas exploration firm Providence Resources which saw its shock lift over 7 per cent this morning to €0.09