The ISEQ index of shares was down 49.59 points to 8670.81 in early trading today.
It was a bad morning for the financials. AIB was down 10c to €21.60, Bank of Ireland was down 5c to €15.80, Anglo Irish slid 4c to €14.55, while Irish Life & Permanent fell back 2c to €4.05.
There was little movement among Ireland's two listed airlines this morning as the Taoiseach Bertie Ahern was expected to outline the Government's opposition to any Ryanair takeover of Aer Lingus during an address to the European Commission in Brussels today.
Aer Lingus was unchanged at €2.84 ahead of the meeting, while Ryanair was down 2c to €9.43.