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AXIS BANK The stock managed to breach its support today and had a steep downfall. It was down by nearly 5.83% today. It now has major support at 1095, if it consolidates for a while, breach of this.... Read more here @ http://tinyurl.com/73rphd6

The plunge on Wall Street led to a steep decline in Hong Kong in some of the heaviest trading of the year. For now, investors show precious little interest in buying.

Battered by the steep drop on U.S. markets, Hong Kong blue chips fell below the 22,000 level in heavier turnover.

China stocks and Hong Kong stocks plunged in early trading in response to the cut in the U.S. credit rating and fears of a global recession.

Not even optimistic earnings reports were enough to help bolster nursing home operators and insurers following the steep cuts they'll have to endure as a result of the new budget.

The stock market typically experiences a September slump, but with last month's steep drop, volatile trading and bull run, investors shouldn't be surprised to see a break from the norm this year.

Analysts are losing more and more confidence in banks with downgrades leading the top financial institutions to 52-week lows. Bargain bin hunters continue to push shares up on the slightest bit of good news, but how long can this continue in light of the harsh realities facing this sector?