US market meltdown? All eyes on its economy as its stock markets open at this very moment

Okay, we may not be able to fully understand everything about it, but the bottomline is, whatever happens to the economy of the most powerful nation in the world, we will all going to be affected. So no wonder, all eyes are on the "Big Board" right now as US markets reopen as I write this. Major international media outfits are broadcasting live telecasts of what is happening right now in New York. But as of the latest, US markets continues to plummet on Wall Street opening bell with Dow Jones down by more than 400 points and Nasdaq down by 5% - this despite the rare US Federal Reserve interest cuts.

The million-dollar question hovering over right now is: Is the US economy on its way to a recession?

The next big question to ask is: How will the Philippine and other Asian markets react in the next few hours as the sun rises on our shores and the shadow of this crisis looms on the horizon?

While I hope for the best and I believe we should really do the same and stay calm, I say, better hold on and just be ready. This may lead to one hell'uva ride for all of us.

Good night, and good luck.