Dow Jones

The Dow Jones Industrial Average dipped below 8,000 but then recovered and was down 0.05% at 8,574 points.

In Europe share prices falls have been much steeper. In London the FTSE 100 share index was down 6.9%, Paris was down 8.4%, and Frankfurt was down 8.9%.

Investors increasingly fear a global recession, despite interest rate cuts and cash injections by central banks.

Wall Street has lost more than 20% of its value in the past ten trading days and is heading for one of its biggest weekly falls since the Dow was created 112 years ago.

Finance ministers from the G7 are to meet in Washington later.

As well as the G7 meeting, talks will be held at the International Monetary Fund (IMF) in Washington.