The FTSE 100 is expected to open sharply lower following further heavy falls in US and Asian markets overnight.
Spread betting companies are calling the lead index down by around 50 points.
Ex-dividends will also weigh on the Footsie reducing it by 9.99 points with Glencore (LON:GLEN), InterContinental Hotels, Admiral Group (LON:ADML), Antofagasta (LON:ANTO), Endeavour Mining amongst the companies going ex-dividend.
In the US, the Dow closed Wednesday down 280 points, 0.9%, at 31,511, the Nasdaq Composite lost 67 points, 0.6%, to 11,816 and the S&P 500 dropped 31 points, 0.8%, to 3,955.
The benchmarks spent time on both sides of the flatline but trended lower as the session went on and ultimately lost ground for the fourth consecutive day. For the month of August, the three major indices all fell more than 4%.
It's a familiar refrain, but investors are still grappling with a Federal Reserve likely to continue aggressively raising interest rates.
“Markets were counting on limited rate increases and quick rate cuts,” said Brad McMillan, chief investment officer for Commonwealth Financial Network, according to CNBC. “The speech was clear, however, that the increases will be larger, and the cuts more delayed, than anyone expected.”
In London PMI manufacturing data is due for release.