Last night the Nasdaq Composite fell 48 points, or 1.2%, to 4,080, with a loss of 4.7% since Friday, the largest three-day loss since November 2011. In the UK market, online retailers AO world and ASOS fell heavily as sentiment suddenly faded after last week’s U.S. non-farm payrolls report.

Russian and Eastern European focused funds dominate the list of worst performers so far in 2014.

The SP 500 ended the first quarter of 2014 at 1,872, with a 0.7% gain for the month and showing a 1.3% over the past three months whilst the Dow Jones Industrial Average ended at 16,458, 0.8% higher on the month but down 0.7% over the the first quarter of 2014.