Binary.com

So far in 2008, over 1 million jobs have been lost, most of these have been in the financial sector but the slump is prevalent in virtually every US sector.

ctober was the worst month for the S&P 500 since the 1987 stock market crash, not only that, it was also the most volatile in the market’s 80 year history.

With Friday's falls, 2008 is shaping up to be the worst year on record for global stock markets. Last week the FTSE 100 fell 5%, the DAX 4.96% and the CAC 3.54.

It could be argued that even with the wild gyrations of the past few months, many were still in denial about the state of the financial markets.

Traders, investors, and financial journalists must have been glad to reach the end of a week that will surely go down in the history of financial markets.

A week that showed so much promise ended up being a huge let down.

A week that showed so much promise ended up being a huge let down. A lot of ink was spent on the take over of Freddie Mac and Fannie Mae by the US government, and it allowed equity markets around the world to open the first trading day up 3%.

It was a dire for stock markets, with all major world indices trading well in the red. Thursday saw the bulk of the selling as US markets moved quickly to pre-empt Friday’s poor Non Farm payroll figures.

It was a good week for European equity markets with the FTSE100 finishing the week at 5636, its highest level for nearly two months.

It was another edgy week for stock markets with both bulls and bears frustrated and unwilling to take on big positions.