Proactive Investors - FTSE 100 is expected to open lower following losses in the US and Asia and as the IMF posted another gloomy assessment of the UK economy.
Spread betting companies are calling the lead index down by around 28 points.
The IMF has downgraded its UK gross domestic product forecast once again, predicting a contraction of 0.6% against the 0.3% growth pencilled in last October as Britain looks set to suffer more than most from soaring inflation and higher interest rates.
In the US markets ended the Monday nursing heavy losses with the Dow down 260 points, 0.8%, at 33,718, the Nasdaq Composite off 228 points, 2%, to 11,394 and the S&P 500 53 points worse off, 1.3%, to end at 4,018.
Asian equities followed New York’s path, despite new figures showing China's factory activity returned to growth.
In Tokyo, the Nikkei 225 index was down 0.4%. In China, the Shanghai Composite was down 0.4%, while the Hang Seng index in Hong Kong was down 1.6%.
In London, trading updates are expected from Pets at Home PLC and half-year numbers from ITM Power PLC.
On the economic front, consumer credit, mortgage approvals numbers and the latest Nationwide house price index are also due.