With the recent stock market turmoil, one has to hope people didn't look at what was happening to Google stock late today and assume it was just another stock tanking. Especially not when the price of the stock dropped to as low as $0.01 during trading just before market close.

The Dow and Nasdaq were near their highs for the day at midsession after a market-friendly report on economic growth and a big drop in oil prices. Crude oil spiked after a report of a big drawdown in inventories in the latest week. However, the Energy Department said the drop was caused by "temporary delays" in unloading tankers. Crude oil then tumbled over $3 a barrel in New York.

The stock markets in United States fell more than two percent on recession worries. They extended earlier losses as some economic analysts say the United States may already be in recession. All three major U.S. stock indexes ended down more than 2 percent after a record quarterly loss at Citigroup. Intel stock plunges about 13% as investors react to the company's earnings and guidance.

Market commentators say that the fear is a major factor today ahead of U.S. Stock Markets open. Although IBM reported better than expected results, A.G. Edwards Chief Market Strategist Al Goldman says "the stock market will experience some short-lived bounces," but he think the rebound is several months off.

U.S. markets closed mixed on Thursday from continued concerns over the uncertain credit markets and a weakening economy. A slew of poor news from the financial sector set the sour tone for Thursday.

On Tuesday, the Federal Reserve's decision to cut interest rates only 25 basis points rocked the U.S. markets.

The stock markets in USA are looking to make modest gains and to the possible Federal reserve interest rate cut. Fed's rate cut action may overshadow the subprime losses and give the markets a lift.

The week ended quietly on Wall Street, says A. G. Edwards market commentator Alfred E. Goldman, corporate vice president and chief market strategist at A.G. Edwards & Sons, Inc.

Caterpillar's grave warning about the US economy's future coupled with the twentieth anniversary of “Black Monday” – the nations largest stock market plummet in a single day – caused stocks to dive and sent shivers through many investors.

SeaChange International, Inc. (NASDAQ: SEAC), a leading provider of software and hardware solutions for video-on-demand television, announced today that the company has received, as expected, a NASDAQ Staff Determination letter indicating that the company is not in compliance with the NASDAQ continued listing requirements set forth in Marketplace Rule 4310(c)(14).

The Nasdaq Stock Market, Inc. (Nasdaq:NDAQ) announced today (August 20) that its Board of Directors has authorized the company to explore alternatives to divest its approximately 31% stake (61.3 million shares) in the London Stock Exchange Group plc (LSE). NASDAQ has retained J.P. Morgan Securities Inc. and UBS Investment Bank to assist in its review of sale alternatives.

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