The world's stocks have continued to slump as confidence fails to return to the money markets.
European stock markets have fallen further amid continuing instability within the sector.
The FTSE 100 was nearly ten percent down, at 3887 points, when trading opened this morning. This is the first time it has fallen below 4,000 points in five years.
Confidence is low in the money markets as a whole, with other falls reported across the continent. Paris was also down 8.4 percent and Germany by 9.1 percent.
Furthermore, there have also been drops in Asian shares. The Japanese Nikkei index fell by ten percent and insurance company Yamato Life has collapsed.
Hong Kong has even reached a three-year low, down by seven percent.
Oil prices have also fallen to a one-year low. The price of US crude oil is now less than $83 a barrel.
The news will likely be of concern to those involved in share dealing.
BBC blogger Robert Peston has said that the drops in share prices in America and Tokyo will affect many people's wealth, especially with regard to pensions, but said these were symptoms rather than the cause of the volatility.
Mr Preston also commented that if payment demands for the collapsed Lehman Brothers reach $400 billion, as some analysts believe will happen, financial institutions such as hedge funds, banks and insurers will suffer further.
