Bad day for the markets in Europe and the U.S. (Jan 14th)

Bad day for the markets in Europe and the U.S.

European Markets were hit by the bad news from the U.S. and sank between 4 and 5 percent today. Walstreet got hammered by the bad news from the retail sector and continuing worries about the banking sector.
At this hour (Amsterdam, 21.20 CET) the main U.S. indexes are down well over 3 percent with the NASDAQ going to minus 4 percent. The DJIA is going towards the 8000 level again.
The outlook for the Asian Markets tomorrow looks pretty grim.
Oil dropped below $37.- on economic worries, bulging inventories and lower demand forecasting. Google shares kept barely above $300.-.
We saw today even signs of worry from the Dutch Government, they are beginning to understand the Netherlands cannot escape the recession.