Global stock markets are continuing to fall as investors grow more and more concerned over economic growth.
All three major US markets ended the day 3% lower, while European markets dropped and Asian markets opened with a fall.
Following news that the UK economy contracted in the last quarter, along with weak economic data coming out of Germany and China, has prompted investors to ditch riskier stocks in favour of safer bets.
Like the UK, Germany’s economy contracted in the second quarter. And China reported its slowest industrial growth for 17 years.
There are also concerns that US President Trump’s repeated attacks on the Federal Reserve could damage investor confidence. The Fed has so far refused to change interest rates, which has led Mr Trump to accuse it of doing nothing to support the US economy. A body that makes monetary policy decisions free from political purpose and interference, there are concerns that altering interest rates now would be a sign of bowing to political pressure.