(CNN) – The topsy-turvy world of the stock markets continued Wednesday with the main indices all off very sharply. Today's serious falls came when Wall Street opened and tumbled sharply.
It was a classic case of the European market grumbling for most of the day, seeking direction from the U.S. - and then responding accordingly.
Behind the falls are real and growing worries about the economic health of the major economies.
The Governor of the Bank of England, Sir Mervyn King, said: "There are a number of headwinds to world and domestic growth ... and these headwinds are becoming stronger by the day."
The U.S. Federal Reserves statement yesterday said U.S. growth this year was "considerably slower" than expected, "household spending had flattened out" and the housing sector remained "depressed."
Most important of all, the Fed has announced for the first time that it will keep rates low until 2013: A remarkable admission of the weakness being faced.
Editors note: David Buik is a veteran commentator and partner of BGC partners. This is his take on the markets of August 9, 2011.
I have been associated with markets for 49 years and I have never, ever known such volatility such as the Dow experienced [on] 9th August 2011, from the opening at 1.30pm BST up until 5.30pm BST, and there were still 4 hours to go.
The Dow had moved 2000 points from the opening – down 3%, then up 6%, then down 4%, then up 3%, then down 2% and at 5.30pm it was up 2% at 11033 (20% movement).
Quite astonishing! I was there for October 1987, where of course it moved more violently in one direction (down 20%) and also in October 2008, when it fell 9%.
London, (CNN) – Liz Pilgrim opened her boutique babywear store, babye, in Ealing seven years ago. She decided to build up her own business after she had her first child, and saw a niche in high quality maternity products.
She has since expanded the business, opening a second retail outlet and online store. But last Monday babye was targeted as part of the violence which swept London and through the UK.
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