Scary stuff, y'all. We are not the only country suffering from a recession. Check this out:
Japan's Nikkei plunged more than 9 percent Wednesday, and Indonesia's Jakarta composite dropped 10 percent as Asia markets responded to the Dow's lowest close in five years and fears of a global recession.
In Seoul, the KOSPI fell 6.4 percent, the Taipei Weighted declined 5.8 percent, and Hong Kong's Hang Seng index plunged more than 5.6 percent.
The Hong Kong Monetary announced it would lower interest rates a full percentage point starting Thursday.
Trading in Jakarta was halted to slow the plunge there, and Sydney's All Ordinaries index was down nearly 5 percent in late afternoon trading.
The Nikkei's drop -- near 10 percent near closing -- was one of the steepest since 1987, CNN's Kyung Lah reported. U.S. Federal Reserve Chairman Ben Bernanke said Tuesday that the global financial crisis is likely to restrain the U.S. economy well into 2009.This is NOT cute.
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