In tandem with global equities, the UK market has declined 16% from its April peaks. Volatility has spiked and confidence has collapsed.
Economic data in Europe is improving steadily, an expansionary monetary policy is in place and company earnings are set to pick up.
The papers called Beijing's surprise devaluation an "escalation of currency wars", with some stating the move was "best seen as a distress signal from Beijing".
Equity market contagion is a familiar but often irrational phenomenon, which can be driven more by ill-defined fears than by sober analysis.
Amid the rise of unconstrained fixed income funds and index strategies, it is easy to forget benchmark-relative, active fixed income mutual funds remain popular with investors - and with good reason.
UK growth focus UK property prices, particularly in London, are back above their 2007 highs. This is important as it is primarily homeowners who drive the UK economy - over 50s own around 75% of the country's wealth.
Fund managers reveal to Investment Week the tailwinds behind their favourite alternative investments.