News of the plane crash in New York has caused a fall in stock values in markets around the world.
The Dow Jones Industrial Average fell 166 points or 1.73 per cent to 9,440 shortly after the opening, while the Nasdaq fell 45 points, or 2.46 per cent to 1,783.59.
In London, the FTSE Eurotop 300 index was down almost 3.5 per cent in the immediate aftermath of the crash but about half an hour after the crash, its losses had been trimmed to 2.1 per cent.
The airline sector, which has seen traffic fall sharply since the September 11th attacks on the World Trade Center in New York and on the Pentagon in Washington, reacted badly. British Airways fell 10.6 per cent.
"We don't know specifics, but watching the market pullback here is a sign that investors are still sensitive to this kind of news. Hopefully, it's unrelated to the terrorist attack in September," said Mr Gary Thayer, chief economist at AG Edwards in London.
European currencies rose against the dollar, with the euro adding three-quarters of a cent to about $0.90 and the Swiss franc, a traditional safe haven in times of turmoil, rising half a centime to 1.6233 to the dollar.
The dollar also fell to a one-month low against the yen of below 119.75 following the crash.
"People are getting into bonds for safety, and they are saying 'here we go again'. There is not the disbelief that followed the September 11 events. People are on high alert," said a London trader.
Reuters