Stock markets are plunging everywhere over debt fears in the eurozone and mounting tension between South and North Korea.

Asian markets were down overnight; Europe got out of bed and followed suit. The FTSE 100 in London is down by 2.7 per cent, while Germany’s Dax dropped 2.3 per cent and France’s Cac 2.74 per cent this morning.

Stocks were down 2.7 per cent in South Korea and 3.1 per cent in Japan after reports that North Korea had told its people it was on a war footing with its neighbour.

And the good news is.