Friday's trading session saw steep fall in U.S. stock markets, with Dow Jones falling by over 300 points and Naswaq by 2.58%. This fall is very bad news for Asian markets when they open on Monday. Euro is getting stronger against the U.S. dollar and has reached levels of 1.5. Yen too is trading very close to 103 mark against the dollar and continued weakness of dollar against major currencies is not ruled in immediate future. Commodity prices refuses to cool down despite fear of slow down in global economic growth. All this is forming an ugly picture where there is too much uncertainity,nervousness and clarity is bare minimum. U.S. banks are borrowing quitely from U.S. federal reserve for future lending purposes but this time they must lend with utmost caution and not throw cheap money to any borrower who in future will default at will. U.S. fed has admitted that smaller banks will fail after having exposed to subprime mortgage market. Financial market regulator must foresee and place stringent norms for introduction of riskier financial derivative products in credit markets which are introduced just for the sake of making a quick buck. If this trend is not stopped, then we are again headed for a disaster in credit markets. U.S. authorities must now stop giving lectures to other nations about how to regulate their financial market and instead look into their own backyard which is now full of skeletons which are also making life miserable for rest of the world. Financial institutions of other nations like Europe and U.K. must have now realised about the fallout of putting money blindly into something that they haven't thought about that it can take them on the path of bankruptcy. And the usual culprits again are people/investors who have lost tremendous amounts of money in recent stock market crash due to U.S. credit markets sins.