Last Friday's signing of the US historical economic rescue package into law has failed to prevent global stock markets from diving much deeper beyond expectation.
Those who have hoped to see a rise in stock markets this weak were shocked by the extent of the market plunge on Monday. The Dow Jones plummeted 569.8 to 9755.5, penetrating the psychologically important 10,000 mark for the first time since 2004, with the S&P 500 off 64.2 at 1035.0.
Confidence of global investors has been heavily pounded and is unlikely to be restored in the short term. A global economic recession is looming large.
Along with the US $700B bailout package, European nations have sought to close ranks to avert the financial epidemic from the Unites States. However, no tangible progress has been made.
Do you think it is too late for the governments to offer an effective remedy? If not, what do you think they should do?
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