Here comes the double-dip

The markets are nervous, and everywhere you look it's showing. Fasten your seatbelts - it looks like we're about to head into the double-dip.

After sliding again last week, markets have remained nervous over the past few days. The MSCI World Equity Index hit a nine-month low on Monday, while America's S&P 500 index is near a seven-month low; it is down by almost 15% from its recent high. Copper, a widely watched leading indicator for the global economy, has fallen to an eight-month low. The euro is at a four-year low and gold has hit new highs in sterling, euros and dollars.

The pound wobbled too after ratings agency Fitch reminded the markets that Britain faced a "formidable" fiscal challenge and needed to speed up its deficit reduction plans from the path sketched out in the last budget.The government is already preparing cuts to be implemented more rapidly.

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