The FTSE 100 slipped another 1.4% yesterday to close at 5,145, its lowest for almost three months as markets worried about the state of the world economy.
Miners were firmly rooted to the bottom of the table as metals prices continued to fall. Xstrata lost 4.3%, Antofagasta slid 3.9%, Anglo American was 3.3% lower, and Kazakhmys shed 3.1%.
Lower crude prices affected energy stocks, with Royal Dutch Shell falling 2.4% and BG Group 1.4% weaker, while BP lost 1.2%
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Nor did defensive stocks escape the rout. AstraZeneca was the day's biggest faller, down 4.6% after fourth-quarter earnings missed expectations, while GSK lost 1.6%.
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Europe
In Europe, the Paris CAC 40 fell 71 points to 3,688; and the German Xetra Dax was 103 points lower at 5,540.
US
In the US, the Dow Jones Industrial Average fell 1.1% to 10,120; the S&P 500 lost 1.2% to 1,084; and the Nasdaq Composite was 1.9% lower at 2,179.
Asia
Overnight in Asia, Japan's Nikkei 225 fell 2.1% to 10,198, while the broader Topix index lost 1.4% to 901. In China, the Shanghai Composite fell 0.2% to 2,989; and CSI 300 index lost 0.1% to 3,204.
Commodities
Brent spot was trading at $71.56 early today, and in New York, crude oil was at $73.78. Spot gold was trading at $1,085 an ounce, silver was at $16.25 and platinum was at $1,510.
Currencies
In the forex markets this morning, sterling was trading against the US dollar at 1.6176 and against the euro at 1.1564. The dollar was trading at 0.7152 against the euro and 90.21 against the Japanese yen.
UK news
And today, the Nationwide building society's latest survey reveals that UK house prices rose 1.2% in January, the ninth monthly rise in a row. The average UK property now costs £163,481 - 8.6% more than a year ago. The Nationwide's chief economist, Martin Gahbauer, predicts further rises. He said: "Unless there is a fall in property values in February, annual house price inflation is likely to move into double-digit territory next month for the first time since May 2007."
