The FTSE has now lost almost 1.000 points in a matter of weeks, giving up 3.4% alone yesterday, with the Dow Jones losing a massive 5.5%, the sixth largest drop in the history of the index and the largest since 2008.

The markets are  very worried about the possibility of a  double dip recession caused by low to zero growth in the US, that will impact on all it's trading partners, while the Eurozone is struggling with multiple debt scenarios, that could eventually spiral out of control. If they haven't already.

Gold has been one of the few beneficiaries of the stampede out of equities, hitting new highs and if there is any good news out there at the moment, it could be that oil prices dropped 5% .

Whether that feeds through to the pumps however, is another matter.