Heading for lunchtime and the Wall Street open, the FTSE 100 is drifting further and further down.
We briefly fell by more than 5% just now - with the market hitting 5,022. The year low so far is 4,791 so we are a bit of a way off that yet, but heading in that direction.
Commodities are falling in particular. Brent crude futures are now 3.3% down on the day, at $106 a barrel. The gold price is now $1,749, though in both cases the falls should be understood in the context of a rising dollar.
The US market is expected to open 250 points lower, a fall of just over 2%.
