UK shares are poised for another turbulent day as investor confidence is shot to bits and after sharp losses in US and Europe.
The FTSE100 closed down 2.72% yesterday at 5,689, with banks taking a hit, while the Dow Jones on Wall Street closed 178 points lower. The broader based S&P500 index lost 27 to 1,855.
FTSE100 is called by financial spreadbetters at IG Index to continue the decline and open around 16 points lower.
In Japan, while other Asian markets are closed, including China, shares fell off the cliff - with the Nikkei 225 plummeting 5.41% to 16,085.
The benchmark ten year bond yield in Japan went into negative territory for the first time.
The sinking global markets since the new year has been big news and many are beginning to view it as a loss of faith in the actions of Central Banks to help prop up countries' economies.
Chris Weston, at IG Index, said: "It almost feels as though the markets are pushing central banks into some kind of action, but they don’t know exactly what it is they want.
"Deeper negative rates could have untold, dire consequences.
"Further balance sheet expansion through QE could only lead to more disappointment and an even deeper credibility issue, not to mention dislocations in markets.
"What we are seeing is a ferocious destruction of wealth and confidence, with some rather powerful bearish trends developing. Traders and investors need to adapt, if they haven’t done so already."
So a stormy day on the cards ahead. On the corporate front, we have a quarterly update from travel group TUI AG (LON:TUI) to look forward to.