The news is not good:
NEW YORK (AP) — Wall Street is joining world stock markets in a precipitous plunge, with the Dow Jones industrials dropping more than 400 points in the opening minutes of trading. The growing belief that the world will suffer a punishing economic recession has investors furiously dumping stocks. Grim news from overseas has added to the worldwide gloom.
Japan's key stock index nose-dived 9.6 percent on a rising yen and growing recession fears in Tokyo on Friday, 24 October 2008. The benchmark Nikkei 225 stock average plummeted 811.90 points to close at 7,649.08 on Friday, bucking modest gains on Wall Street Thursday. The Japanese index closed below the 8,000-level for the first time since May 2003.
Rico says it's going to be a bad time for those holding stocks...
The news is not good:
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