Global Stocks Are Plummeting As Recession Fears Ignite

UNDATED (AP) - Dow futures are warning of another crushing day on Wall Street today.

Dow futures are down 0.8 percent and S&P 500 futures are down 0.6 percent. Yesterday, the Dow closed down nearly 513 points, the steepest point decline since Dec. 1, 2008. Global stock markets plummeted today, amid fears that the U.S. may be heading back into recession.

The leaders of some European countries are holding an emergency meeting by phone today, to discuss the jittery markets and the European financial crisis.