The market slide is getting worse. After news of more sub-prime damage from Citigroup and Merrill Lynch came poor US retail sales figures, prompting more talk of an American recession.
Wall Street is now down around 180 points, dragging the FTSE 100 160.3 points lower to 6055.4.
In the UK, retailers are getting slaughtered. Debenhams is now down 17% and Burberry 16% after trading updates. There is also nervousness at Carphone Warehouse, down 7.5%, ahead of its Christmas update on Friday.
Disappointing Tesco figures have left its shares nearly 4% lower, while B&Q owner Kingfisher is down 7% after a JP Morgan downgrade. One exception to the general downturn is J Sainsbury, up 2.8% after Goldman Sachs made positive noises.
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