European markets fell back into the red on Friday as investor concerns about the global economy returned.
Operation Twist - the Federal Reserve's latest attempt to boost economic growth in the US - sent markets globally tumbling overnight, with major indices in the US and Asia shedding up to 3%.
London's blue chip index remained in the red mid-afternoon despite gains in the US, with investors cautious ahead of the all-important meeting of the Fed in the US.
Asian indices responded to the move by Standard & Poor's to downgrade Italy by falling overnight.
US markets fell 2% at open, adding to the grim picture in Europe, as investors continued to fret over the future of Greece.
It has been an uncomfortable summer for investors as the credit crisis from 2008 continues to plague markets, this time in the guise of a sovereign debt crisis. But how have markets really coped?
US markets opened lower this afternoon, following falls across Europe today as fears of a Greek default resurfaced once more.
Stocks ended six consecutive days of gains in the US as investors took profits ahead of a key jobs report out later today.
The FTSE 100 is expected to extend gains made in the past few days after Asian and American markets climbed overnight on positive US economic data.
Shares in software giant Autonomy soared this morning after it confirmed last night it had received an $11bn offer from Hewlett-Packard.