This issue has become global now. The more people get scared the worse it will become.
Everything in the world is over inflated and people are not living within their means. With other markets and banks failing around the world it should not take more than a few months for the worlds central banks to stabilize the world economy.
I look for the USA to be a trend setter in this. That 700 billion dollar bailout will take a month to hit and take effect. Wall street and these corperations need to see things for what they are and start to rebuild.
Americans need to stop trying to keep up with the Jones and live off of so much credit and earn what they buy. People need to support local business and American companies.
If this was just the USA falling i would be very worried but all economies are in the same or worse boat. The Russian stock market fell 19+% Asain and Eroupe markets fell 3-8%
So with that being said the 5-6% loss is not so bad. Someboday needs to step up and get the worlds business leaders and bank ceo's in one room to update the worlds economy and lending and banking practices.
Right now nobody is buying stock or investing money. Everybody is waiting so if some of these people would make a move it would help a ton. I would think the bottom is here and things will start to look up within a couple months on wall street. It may not be great for a while but ok is better than bad.