Wall Street the worst day since 2008
Today was the worst day of the American markets since 2008, as investors took note that the U.S. economy could enter a new recession. The Dow Jones Industrial Average dropped 4.3 percent during the day, and the S&P 500 Index lost 4.8 percent and Nasdaq 5, 1 percent.
While in Europe, the investors fear for the economic health of Italy and Spain. In this respect, the recent announcement by the European Central Bank does not help, because nothing said about an intervention to assist the economies of Italy and Spain, so investors fled in panic and the markets plunged.
As mentioned in previous notes the problem was not Greece, the problem is Europe and the U.S. too, so the developed world recession, if not a global recession –a very real one– is around the corner.