Debt prices plummet, dollar gains… U.S. stocks fall on profit-taking but rise in Europe…  Dollar at 3-week high vs euro on hopes for stimulus plan… Oil gains as Gaza fighting raises Mideast supply worries.

Risk-taking revived but uncertainty lingers… U.S. dollar hits 2-month low vs euro, down vs yen… Don’t let go of recession trades just yet – JPMorgan

White House and Democrats tentatively agree to auto aid… Eastman Kodak, Electronic Arts warn on outlook… Energy shares could get lift from higher oil prices

Not just the United States but the entire world is dealing with the implications of a near perfect storm which has created havoc on three fronts – falling asset prices, a weakening capital base amongst financial institutions and high inflation.