It looks like we're seeing a global stock market correction.
Note, the term crash is defined in the double digit percentage losses. So, this is a correction, although some emerging markets are entering crash territory.
At the time of this writing:
The Dow is down over
550 762 points and drops below 10,000.
The NASDAQ has dropped over 6.6%.
Emerging Markets have dropped the most in 20 years.
The Russian market dropped 19%
The European markets fell the most since 1987.
10% decline in Indonesia.
Brazil drops 16%
India is at a 2 year low.
China down 5.23%
Hong Kong 4.97%
So much for the peddling of Paulson's $700 billion dollar taxpayer funded plan being a cure all.