Hello, I'm Simon Long, the economist's finance editor, and this is Money Talks.

We will come to the dramatic scenes around global stock markets in a moment.

And later in the programme, why should Britain care about the trade deals

it's about to lose?

We know that some of those countries have been trying to grab extra concessions.

They're seeing this as an opportunity to get more to squeeze more out of the UK.

And getting crafty.

Why going out need no longer be a headache for T-totallers.

The alcohol is removed from the spirit and they're distilled with botanical so like gin you

would drink it with tonic water and apparently it's very tasty.

That noise you may hear in the background is of course the gentle tinkling of crashing stock markets.

As so often the global market turbulence started in America,

and I'm joined by our US economics editor Henry Kerr who's in Washington.

So this runoff, sell-off in the markets seems to have started with last Friday's figures showing

wages in America rising somewhat faster than expected.

How justified are the fears that provokes of firstly higher inflation and then higher interest rates?

Well that's right.

There was a strong wage figure last Friday,

slightly higher than expected.

But you've got to put it in context.

It showed 2.9% wage growth.

The series of wage growth that that came from is a pretty volatile one.

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