With talk of a global recession looming, the Dow Jones Industrial average closed down nearly 390 points on Thursday. Investors are losing confidence and certainty that the market can recover, and sold stocks with abandon. The attempt by G-20 finance ministers to boost confidence with a commitment to “a strong and coordinated international response to address the renewed challenges facing the global economy” had little effect.
Economic dips have been happening across the world, in Europe and even in China. Heavy government debt has threatened the euro, which is currently shared by 17 European nations. With the danger of another recession, financial experts sought possible solutions. Economists say the only thing that will give the economy the boost it needs is for consumers and businesses to start spending more money.