It's a veritable blood bath out there today in the markets. If yesterday wasn't a bad enough day on the FTSE100, the index slipped below the 5,500 mark this morning, hitting the miserable depths of 5,483, although it has since clawed back some ground to reach 5,533. But 5,483 marks a two year low for the index. Heavy selling on the US and Asian markets are to be to blame, as well as worries about consumer spending and the soaring price of crude oil, which touched $142 a barrel today.

And frankly Cityblogger believes it's hard to see this volatility ceasing in the near term. There's simply no confidence or appetite for risk out there, and it's unlikely to change any time soon, until we have some really palpable positive economic news.

Market misery aside, Cityblogger wishes you a relaxing and pleasant weekend.

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