Markets: Markets

European stock markets fell Monday morning by as much as 7%, the worst performance since the terrorist attacks on September 11, 2001. They recovered slightly in the afternoon. But the decline, continuing the pattern so far in 2008, looks set to continue. The economic news is bad. Investors seem to be taking on board, finally, that the US economy is sinking, quite possibly into recession. A tipping point was reached last week, when the Philadelphia Federal Reserve Board economy index scored a ne...