Fear itself. The US open.
The FTSE is back down towards its day-low. Currently trading 9.3 per cent down. Not a rising stock in sight.
Europe faring no better:
DAX down 9.47%
CAC-40 down 10.05%
FTSE Eurofirst down 9.27%
Futures are currently pointing to a 4.4 per cent rout on the DJIA - around 8,221. The S&P 500 is indicated opening down 4.8 per cent at 868.4.
Update: CDS on Morgan Stanley are currently trading at 28% upfront. There are two ways you could look at that. Either the market is offering free cash, or MS is in serious trouble.
Update 2: Predicting market open is a mugs-game, but futures now point to a 500 point fall on the Dow - putting it pretty close to 8,100
Update 3: Markets open. DJIA has collapsed through 8,000. Brent crude off 7.6%
