Stock Market Falls
Stock markets and 
other financial markets took a dim view of the future today (Oct. 6, 2008) with the Dow Jones Industrial Average falling below 10,000 for the first time since 2004. Credit markets remain strained and investors are wondering if the $700 billion dollar bailout will not work quickly enough to unfreeze credit markets. The credit crunch is starting to affect the average wage earner causing a crisis of consumer confidence.
Banks made bad bets on mortgage backed securities and are saddled with these securities and remain starved for cash. Stocks have taken a beating in the US, Europe, and Asia causing investors to seek the relative security of US government debt and the rising dollar continues to provide Forex opportunities. Oil dropped to below $90 dollars a barrel due to fears of a global recession.
