The FTSE 100 is predicted to open sharply lower this morning with Eurozone debt worries once again driving sentiment.
It follows a report by the International Monetary Fund assessing the debt loads of Greece, Ireland and Spain that made grim reading and raised the prospect of a new deal for Greece.
Adding to the woe, the debt rating agency Standard & Poors turned its attention to French Banks. It downgraded BNP Paribas and changed the outlook to negative for 10 other French banks, including Société Générale and Crédit Agricole.
In the US overnight, markets ended higher as jobless claims and durable goods orders came in better than forecast, ahead of the US GDP report later today.
However, gains were capped by some downbeat corporate results.
The Dow gained 0.2% to 13,103.7, while the NASDAQ nudged 0.1% higher to 2,986.1.
In Asia, markets are trading lower this morning, suffering a hangover from a rather mixed outlook statement from American tech giant Apple.
In Japan Yamaha Corp is trading 7.3% lower after the company missed its first-half profit forecasts.
The Nikkei 225 index is currently 0.1% lower at 9,042.4, while Hang Seng index is trading 0.5% lower at 21,709.0.
Here in the UK the FTSE 100 is predicted to tumble 41.8 points to 5,846.85 with African Barrick Gold leading the corporate news.