That's what everyone is wondering about Tuesday's stock market. Asia and Europe are down big again. The Dow Jones Stock Futures are pointing to a 500+ point drop. Yikes!

If you are losing sleep over this, you might as well join Paul Kedrosky.

UPDATE: The Dow dropped 460 points after the opening bell, but it has recovered most of that ground. The Fed waged a preemptive strike, slashing the federal funds rate and discount rate by .75%, the biggest cuts in interest rates since August 1982. Perhaps even more interesting: most rate cuts may be on the way.

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