The UK-based international advertising agency saw its shares nearly halve in value on Wednesday as it issued its second profit warning in the past three months.

The company said an independent audit review by PWC had identified the need for a $14.9m adjustment to be made for accounting errors.

"This restatement of our numbers and the reduction in forecasts make for very difficult reading," said chief executive David Kershaw.

It said its adjusted underlying pretax profit for the full year could fall by up to 27%, on a like-for-like basis, from the $42 million reported in 2018.

The fast fashion company based in the UK said that revenues for the six months to 30 September slumped to around $769,800, down from $5.5 million in the same period a year earlier.

The results have raised questions about the future of the company's 73 stores and 171 concessions.

The disappointing results come despite a rise of 3 percent in international sales, and a 12 percent rise in online sales. 

The company has said that they may re-negotiate half of their leases, or close these stores by 2022.

The global engineering group has said that it will restructure from five business areas to three and write down its capital by around $139 million. However, Trelleborg has also said that this change will not affect investor's dividends which will remain at $0.25 per share.

The company will discontinue investments in offshore and construction and coated systems, and maintain it in sealing solutions, wheel systems and industrial solutions.

Perhaps you are feeling a sense of deja vu, because this time last year the markets dipped sharply, before bouncing back in the New Year. If the last couple of days are anything to go by, with the markets in a tailspin, the pattern might be repeating itself as investors seem be faced with similar dilemmas as 2019 draws to a close.

Much revolves around how President Trump is feeling and the rhetoric he uses. His apparent change of tack, taking on a seemingly more relaxed approach now to the time frame of a trade deal with China, has heightened uncertainty on financial markets.

"The change of tone also raises the very real prospect that the tariffs that were due to kick-in on 15 December will now not get waived, and will actually get implemented," said Michael Hewson at CMC Markets.

In the UK, there has been some mildly encouraging data in both manufacturing and construction this week and indications that that real engine of economic growth - the services sector- might be picking up after last week's flash number showed the worst reading since July 2016. Don't expect anything groovy to happen on UK markets until after the election (barring any Trump indiscretions while he is in town for the NATO 70th shindigs).

It is also a big week for data in the US after disappointing manufacturing numbers earlier this week. If the non-manufacturing figures are poor, the odds of a Fed cut might become talk of the trading floor again.

Oil had a volatile session on trade worries amid OPEC+ speculation. OPEC+ meets on Thursday and there is talk that they may cut production to support prices. Bear in mind that the price for the potentially epic Aramco IPO is due to be announced and Saudi Arabia will not want to see a lower oil price following that.