A pick-up on Wall Street has helped the FTSE 100 wipe out this morning's retail-inspired gloom and the index has ended the day up 1%.
DSG's dire warning following a tricky Christmas, Next's gloomy outlook and some worrying Bank of England data on household credit had all made for a weak start to the day.
With retailers warning of tough times on the high street it seems pre-Christmas fears of belt tightening are being confirmed and the market is now bracing for more gloom from the sector.
For an overview of what we've heard so far, check out our interactive guide.
DSG ended the day down 29.25p, or 27.3%, at 78p, the biggest loser in the FTSE 250. Next took the top spot among the FTSE 100 fallers, down 114p, or 6.8%, at £15.52.
By mid-afternoon it was Wall Street that took the helm and its pick-up following news of larger than expected factory orders helped the FTSE 100 end up 62.7 points at 6,479.4.
That eased fears about prospects for the world's largest economy, which also confirmed this afternoon that its oil stocks had fallen. So the crude price pushed through this week's $100 record high and UK-listed energy companies remained in demand.
Tullow Oil remains the day's biggest gainer, up 36p, or 5.6%, at 681p.
