Mariko OI
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'Another volatile day for markets'

Uncertainty continues to grip the global financial markets.

Stock markets in Milan and Madrid are up but they are down in London, Paris and Frankfurt.

Those losses reflect another dip in Asian markets - amongst the biggest fallers was South Korea's Kospi - which closed 3.8% down.

The losses are a combined effect of a downgrade of he US credit rating and concerns that some eurozone governments will be unable to repay their huge debts.

BBC correspondents Mariko Oi, Stephen Evans and David Willey assess the markets around the world.

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