United States Of America finally accepted the long awaited truth that its economy was in recession.The National Bureau Of Economic Research officially declared that US is in recession starting from Dec 2007.Ok, better late than never.$700 Billion bail out and much furore went on before the truth could be digested.

Fed Chairman Ben Bernanke announced that futher rate cuts could be feasible and that the US economy will remain weak atleast till mid 2009.This announcement has sent shock waves across the globe. Dow plunged by a massive 680 points and Nasdaq fell by 138 points.The manufacturing figures of US fell to 26 years low in the recent data which came in.
The effects are already seen in Asian markets now.Nikkei-225 whas falled by 5% in today’s trade,Hang Seng and Straits Times are also trading down heavily.For sure we will see a huge gap down opeing in Indian markets which will open in a few moments from now.Its better to remain away from the markets for a while.Shorting is the best way to trade in such market situations.

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