The US stock market took a huge dip on Thursday -- with the biggest 1-day drop since the 2008 crash -- and now the rest of the world's markets are following closely behind. Stock markets in London, Germany, France, Japan, China, and Hong Kong are all taking huge percentage hits.The crazy thing is that almost every type of investment is dropping, even so-called "safe harbor" stuff like precious metals. Many experts believe that the US -- and probably the entire world -- is entering into a new recession in 2011. Some even claim that the US has already been in a recession since May!
The big question now is what will happen to European and US markets in the next few days. If the sell offs continue many financial experts say governments may have to take some type of emergency response to keep the global economy from diving headfirst into a depression.
Here's the good news: oil prices are dropping like a rock. Looks like it may be time to take your savings out of the bank, head to Vegas (please!), and let it all ride on the roulette table!
Learn some mo': World stock prices plunge amid 'general fear' of a new US recession, European debts
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