The FTSE 100 has tumbled after China stunned financial markets by devaluing its currency for the second day in a row.
China's central bank devalued the yuan to its weakest level in four years today, with markets still reeling from yesterday's shock 1.9% lowering, the most significant devaluation in 20 years.
Global markets slumped on the news, with the FTSE 100 falling 103 points, or 1.5%, to 6,564. The French CAC 40 fell 2.6%, the German DAX 30 was down 2.2%, Italy's FTSE MIB lost 2% and Spain's Ibex was down 1.7%.