U.S. futures tumble, triggering trading limits

U.S. futures tumble, triggering trading limits

money.cnn.com

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.'"

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So, looks like things could actually get pretty scary today, with the so called experts even calling today the possible breaking point. I mean to have to freeze trading and the market is not even open yet is some pretty scary stuff.
So I guess the question is this. Could today be the day that lots here have been calling for? Is today going to be the day where they actually have to halt trading? I mean with Canada's announcment of having to back up Banks now, and markets worldwide still falling despite all the numerous bailouts being handed out. Are we really at that point now where nothing is going to save things?

Are the doom and gloom people here finally going to get what they have been calling for? Or is there a way to save the global economy and stop a global depression?

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