. The biggest creditor is China: Sep 29 - Dow DOWN 777 Sep 30 - Dow UP 485 Oct 1 - Dow DOWN 19 Oct 2 - Asian stock markets down Oct 2 - Tel Aviv Stock Exchange opened to sharp losses Oct 2 - Dow DOWN 348 Oct 3 - Dow Closed DOWN 157 Oct 3 - Dow Closed DOWN 816 for the week of Sep 29 - Oct 3 Oct 6 - Dow DOWN 370 The Dow Jones Industrial Average fell 370 points to 9,956, the first time it has sunk below the 10,000 mark in 4 years. At one point it was down 800 points. Oct 7 - Dow DOWN 508 Oct 8 - Dow DOWN 189 Oct 9 - Dow DOWN 676 Oct 10 - Dow DOWN 128 The Dow Jones Industrial Average fell to 8,451 Dow DOWN 1871 for Oct 6 - 10 Oct 10 Friday - European stock markets slumped following massive sell-offs on Wall Street and Asia as lending rates between banks continue to rise. This week's coordinated interest rate cuts by the world's central banks to thaw frozen credit markets have fallen flat as markets remain gripped by fear. Italian Prime Minister Berlusconi said political leaders are discussing closing world's financial markets while they 'rewrite the rules of international finance' The idea of suspending the markets for the time it takes to rewrite the rules is being discussed at a Cabinet meeting in Naples, Italy. A solution to the financial crisis can't just be for one country, or even just for Europe, but global.' (Bloomberg) Stock losses hurt retirement savings IMF meeting on US economy - NOT GOOD The financial crisis that toppled major Wall Street banks and snarled credit markets around the world has also taken a toll on nest eggs, forcing people to rethink when and if their savings will allow them to retire. People worry that they will have to work longer because the value of their retirement savings has declined. ZionsCRY has reported some suicides of both elite and retirees. Stock losses hurt retirement savings: IMF meeting on US economy: Wachovia for $ale Oct 10 Wells Fargo gets Wachovia. Citigroup walked away. The Fed informed Bank of America to be ready for a one-week universal shutdown of the banking system, including access to checking accounts, savings accounts and credit cards. UPDATE - As of Oct 9 rumors BoA is failing. German bank at risk of collapse Oct 5 A top German bank is on the brink of collapse after a 35bn euro rescue plan collapsed. Germany's second-largest commercial property lender, Hypo Real Estate, said a banking consortium had withdrawn their support for the deal. Its failure will put further strain on financial institutions in other countries. Hypo Real Estate has large amounts of bad debt. So do USA banks, and that picture of financial HELL will be seen in the coming 3 weeks. Hypo Real Estate bank will only survive a few days without a bailout. Where have we heard that before? If Hypo Real Estate does collapse it could plunge already volatile markets even further into debt. DUH. Britain, Germany, Italy and France all agreed to work together to support financial institutions but did not agree to set up a big rescue fund similar to that of the US. The US Congress bailout is only 5% of what is needed. Hypo Real Estate, BBC: Overseas Financials Fell Oct 10 - Overseas markets plunging, some countries shut markets down. Oct 6 - Across Asia, all markets were in the red as government bank bailouts in the U.S. and Europe failed to alleviate fears of a global financial crisis.Oct 1 - 10, 2008 ZionsCRY NEWS in a nutshell ZionsCRY ARCHIVE of TOPICS and past issues: ECONOMY David Wilkerson ECONOMIC CRASH prophecy has begun ZionsCRY is NOT an economist, I am a reporter. I report, I dont predict. DO NOTHING out of panic. PRAY, then act. BE WISE ECONOMIC CRASH will CREATE CHAOS in AMERICA, David Wilkerson: BBC global market watch: NOTHING will stop a global depression! Passing any bill will be worse than doing nothing