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While US markets are closed on Martin Luther King Day, worldwide stocks are plunging. Demands for safety in bonds has risen dramatically, following the biggest weekly fall for the S&P index since July 2002. As CNN reports, “Many indexes are now more than 20 percent below their recent cycle peaks, a traditional sign that what is going on is not just a correction but the start of a bear market.” President Bush’s recent stimulus package has not alleviated concerns that the US economy is falling into a recession.

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