That the US is now in recession is no longer in dispute. The question now is how deep will it be and how long. Investors are fearful of a deep, long recession that claims some of the marquee names in American business. The automakers are under particular threat and their stocks are being hammered again today.
Stocks remain jumpy, trading down 200 points just moments ago. European banking woes remain intense with trading halted in several bank stocks now crossing the wires. JPY strength is the net result of the renewed uncertainty.
