US and European markets tumbled this afternoon amid fresh concerns over the state of the US economy.
Henry "Hank" Paulson, the former US Treasury Secretary, admitted that he was wrong to accuse Britain of ruining the rescue of Lehman Brothers.
Britain could be forced to help bail-out some of Europe's crisis-hit economies with tens of billions of pounds, it is feared.
The FTSE 100 opened lower, down 39.78 points or 0.76% to 5220 over worries about global growth following announcements in China and the US.
Commodities investor Jim Rogers has forecast a boom in commodities as demand for raw materials exceeds supply for the next twenty years.
Fears the US economy has entered a substantial downturn have eased over recent months, Federal Reserve chairman Ben Bernanke claims.
The Federal Reserve has signalled its intent to shift its focus to fight the increasing dangers of inflation and the low US dollar.
Recent volatility in commodities prices signals a shift in the balance of economic power back towards Western service-led economies, according to L&G.