Panic and crisis in the markets (again)

Despite recent government interventions, markets continue to have serious concerns that the Eurozone and America can contain the debt crisis and produce sustainable growth.

The facts give cause for alarm. The FTSE 100 lost 3.4% in early trading; huge sell-offs on Wall St are hitting the Dow Jones which fell 4.3%, one of its biggest falls ever; Japan’s Nikkei slide by 3.7%; and bond yields in Spain and Italy rose above 6%.

There is a ton of good coverage in the press, some of which is being live blogged.

Start off with last night's Newsnight piece.

Guardian

BBC

Telegraph

Independent