Yesterday (6th October 2008) was an awful day for people with long positions in most of the equity markets.

Stocks in London fell badly - their worst fall since Black Monday (October 1987) - on the back of fears about global economy.

The FTSE fell 7.9% down to 4,589 points - down a huge 32% from last year's high. This wiped off £93bn from companies share value.

The DJIA in the US fell below 10,000. This is the first time it's been that low since Oct 2004. ( down 7.75%)

All this despite lots of noise, suggestions and recommendations by many governments..

So what does it mean.. we'll have to wait and see..