Relative calm has returned to the markets overseas this morning. In Europe, stocks returned to positive territory pretty much across the board. The DJ Stoxx index is flat so far in trading today, and London's FTSE is up 1 percent.
The government of Iceland took over the country's largest bank today and the prime minister warned that the nation could fall into bankruptcy. Analysts have said the small country's banks overextended themselves internationally in recent years.
In Asia, Hong Kong's Hang Seng index closed up 3 percent, but concerns about the economy in Japan kept the Nikkei down slightly.
Here in the United States, as the financial crisis continues to spread, retailers are now feeling the pinch and they are increasingly worried about the upcoming holiday season.
Do you have questions about what to make of the market's continued descent? Wondering about what comes next for that $700 billion the government now has authority to spend? The Post's Glenn Kessler answers some of your questions in today's Business section.
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