Asian markets are lower again this morning as the credit crunch in China continues to dominate thoughts. China is almost 5% lower today after falling by a similar margin yesterday, falling to its lowest level in 4 years.

European equity futures are slightly lower this morning, as global growth concerns intensify. Today we have French business confidence and Italian retail sales.

US markets closed lower yesterday but off session lows, 1575 on the S&P was considered a level of support but was breached comfortably yesterday. Today we have durable goods and house price data due.

Philip Ball | Sales and Trading