The FTSE 100 has marked its biggest ever one-day fall - in nominal terms at least.
Outstripping the points losses of Black Monday and September 11, 2001, the index has ended down 323.5 points, or 5.5%, at 5578.2. In percentage terms it has not quite matched the day of the US terror attacks, when the FTSE 100 slumped 5.7%.
The index was dragged lower by tumbling miners on the back of softer metals prices. BHP Billiton is hardest hit down more than 10%.
Aside from the miners several financial sector stocks are down sharply. Asset manager Schroders is more than 8% lower and Old Mutual is almost 8.5% lower.
But it's the financial sector too that has provided most of the risers. Friends Provident, boosted by JC Flowers' bid interest, closed up more than 3%. Life insurer Resolution is up just 0.5%, but on such a torrid day that is still enough to make it the fourth biggest riser.
Northern Rock meanwhile is up more than 46% after the chancellor's statement on plans for the stricken lender.
Finally, miner Xstrata was only briefly buoyed by news that Brazilian rival Vale had held takeover talks with the Anglo-Swiss firm. Xstrata shares could not shake off falling metals prices and ended mired in the red, down 5.5%.
