US Dow Jones Drop 80 Points in first 15 Minutes

This is the effect after Goldman, Sachs & Co. told investors to sell shares of Citigroup Inc. and Lowe's Cos. There is also a concern that U.S.'s retail sales growth this holiday shopping season may be the worst in at least five years and signal an economic contraction. The number of economists forecasting the U.S. will slip into recession almost doubled over the last two months.

What's the likelihood of a global recession? I think it is never so high before since 9/11.

Singapore's Q3 GDP growth falls short of market expectations
http://www.channelnewsasia.com/stories/singaporebusinessnews/view/312392/1/.html