Fiona Cincotta of City Index (http://www.cityindex.co.uk/) brings you the latest market news affecting your financial trading. Headlines include:
- FTSE down following overnight falls on Asia and Wall Street.
- Wednesday was the worst trading day in the US for eight weeks, following continued unease over US debt problems.
- Analysts estimate a default could see equity markets fall by up to 30%.
- Weak manufacturing and mortgage data raised doubts over recovery in addition to mixed corporate earnings.
- London is seeing a flight from risk, with the banking sector down 12% in 2011. Gains are expected to be limited until a resolution is reached regarding the debt crisis.
- In economic data, keep an eye out for US pending home sales and US initial jobless claims data.
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