Pick of the early market news

Markets will continue to react to the nine-eurozone S&P downgrade, stripping France, in particular, of its former triple AAA-rated credit status. The FTSE 100 fell -0.46% on so-called 'Black Friday'. Overnight, Asian markets have fallen sharply with Japan's Nikkei giving up 1.5% of its value. The doom-and-gloom continues with the Item Club now claiming that the UK has already slipped into recession.