Just to give an idea of what has happened, here are the falls over the past 15 days.

The DOW is down 25% in 15 days

The SP500 is down 28% in 16 days

The NASDAQ is down 29.5% in 15 days

In Australian, The XJO (ASX200) is down 20.6% in 15 days

“The world is at severe risk of a global systemic financial meltdown and a severe global depression,” warned Nouriel Roubini, a New York University economist known as “Dr Doom” for his foresight in predicting the crisis.

“The US and advanced economies’ financial systems are now headed towards a near-term systemic financial meltdown as day after day stock markets are in free fall, money markets have shut down while their spreads are skyrocketing, and credit spreads are surging through the roof,” he wrote in his newsletter.
Not the sort of stuff which instills confidence is it?