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NEW YORK (CNNMoney.com) -- A wave of anxiety about a global recession was set to reach the United States at Friday's Wall Street open, with limits imposed on futures trading after they fell more than 6%.
Futures followed the lead of plunging markets worldwide, with Japan's Nikkei index ending down 9.6% and European markets down almost as sharply.
"Today might be the day where everybody throws in the towel," said Peter Cardillo, chief market economist for Avalon Partners. "People are saying 'I've had it, I can't take it anymore, I'm selling everything.'"