Global Markets Continue to Decline

Stocks Slide Amid New Trouble Signs

Wall Street looked beyond the government’s bailout plan on Wednesday and saw more signs that the economy was in for a drastic slowdown.

Analysts said market was continuing react to the same fundamental factors that drove the market lower, including weakness in the manufacturing sector, the large drop in retail sales, and the growing realization that there will be no quick fix to the credit crisis.

European markets closed substantially lower.

Asian countries on Wednesday announced new measures to grapple with fallout from the crisis...Asian policy makers had agreed to create a fund to help any countries suffering liquidity problems, with the World Bank committing $10 billion, The Associated Press reported.

October 15, 2008

http://www.nytimes.com/2008/10/16/business/16markets.html?_r=1&hp&oref=slogin