5:20pm Markets Update

Updated: Thursday 28 July 2016 17.21

Global stock markets fell in the wake of disappointing US and European corporate results while the dollar took its biggest tumble in almost two months after the US Federal Reserve left unclear when it will raise interest rates.
           
Equity markets retreated after Royal Dutch Shell in Europe reported a more than 70% fall in quarterly profit that was well below analysts' estimates.
           
In Dublin the Iseq overall index fell 14 points, 0.2%, to 5,804.

The FTSE 100 in London dropped 29 points, 0.4%, to 6,721. In Frankfurt the DAX closed at 10,307 down 1 point. The Cac 40 in Paris was 26 points, 0.6%, lower at 4,421.

On Wall Street, the S&P 500 was dragged down by Ford Motor, which posted poor second-quarter profit.
                         
Ford reported weaker-than-expected profit and declared the US auto industry's long recovery was at an end, sending its stock and shares of other auto companies into a tailspin. Ford's stock fell 9.65% to $12.51.
           
Facebook, however, opened at an all-time high of $128.31 after the company reported quarterly results that handily beat analysts' estimates on Wednesday.
           
The Dow Jones industrial average fell 74 points, or 0.4%, to 18,398. The S&P 500 slid 3 points, or 0.2%, to 2,163 and the Nasdaq Composite added 2 points, or 0.03%, to 5,14.