Today's trading session saw huge selling pressure starting with japanese stocks, and that later on spilled over to other key stock indices of Indian, HongKong, Taiwan, Korea, Chinese, Brazil. Even European stocks are feeling the intense selling pressure and are trading lower. Dollar too has fallen below important level of 100 against the Yen for the first time since 1995 and is causing severe strain in yen carry trade functioning which is making leveraged players very nervous and worried. Crude oil too is showing strength and is making new heighs with each passing day. The way equity markets apart from Dow Jones are behaving extremely negatively to every bit of news, it's quite apparent that markets have fallen into the firm grip of bears. News flow too is very bad in terms of economic data from key industrial economies and rising inflation. Volatile currency movements and strong commodity prices coupled with extremely weak stock markets is making life very difficult for common investor and day trader as he/she is not expected to react to sudden sharp reversals and volatile and adverse news flows. Risk appetite among market players has evaporated and it will be test of nerves for them this whole year.