Wall street hung to dry on Credit worries!

The Wall street got hung to dry today on the fears of a Credit crunch happening all over again. Whoever coined the term 'Black Friday' must have a sense of foreboding if he or she had walked into the treading hall today. On the normal days the trading hall is a mess, today it went way beyond that. With the crunch slamming the markets down, the investors were sent scurrying for cover.
Most of the worries stemmed from a fear of more debt write offs to come, as some of the major banks have already started to do that. And lets not forget the 'Countrywide episode', with that in mind, what started like a normal trading day soon escalated into a sell off! Will the situation improve, yes, it will, but not in the near future!