Worries over inflation and interest rates returned to haunt Wall Street last night as the Dow gave up any gains  late in the session and then sold off seventy points in the last hour.  This taking us smartly below the neckline of the "head and shoulders" Highlighted early this week.

London had staged a small rally on the back of early gains across the pond this now appears to have been a false dawn.

Asian Markets have also been on the skids with the ASX down 113 points ( should knock miners) the Hang Seng is down 278 points and the Nikkei is down 460.

Dax futures have traded 110 points lower since the  London markets closed yesterday a clear pointer as to todays direction.  The FTSE is called down 90 points.

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