Shares on Wall Street have opened lower today, sending the London market even further south.
The Dow Jones industrial average has fallen more than 100 points from last night's close of 7465.95, the lowest level of the financial crisis.
Investors are feeling increasingly beleaguered by the onslaught of negative news and fears that the recession will prove to be longer and more severe than previously expected.
There are also worries that US plans to rescue banks may end up involving the nationalisation of Citigroup and Bank of America.
The Dow Jones dipped to 7327.04, nearly 140 points down on last night.