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One of the causes of the dip was a fall in mining stocks. Kazakhmys dropped by 2.95 per cent, while BHP Billiton fell by 2.69 per cent.
Antofagasta also declined by 2.68 per cent.
Barclays Bank was at the forefront of last night's rally on the FTSE. This morning, however, it was down by 0.17 per cent to £1.16 per share.
Meanwhile, BG Group, BP, Royal Dutch Shell and Tullor Oil dropped by between 1.4 and 2.2 per cent.
The US economic stimulus package remains a key concern for many investors.
Yesterday, president Barack Obama urged the senate to pass the legislation or risk facing an economic catastrophe.
Darren Winder, head of macro and strategy research at Cazenove, commented: "There is persisting uncertainty in the market in terms of getting the details and the effect the measures will actually have once implemented."
He added that many investors are "displaying decreased pessimism".
