New phase in the great recession.

The article discusses the current state of world stock markets. According to the author, the world economy seems to be headed for a double-dip recession or a continuation of the great recession of 2008-2009 after minimal recovery in 2010. The developments in global stock exchanges in the first three weeks of August 2011 have resulted in the change of outlook to a slowdown. International investors were affected by the subsequent downgrade in the U.S. credit status by Standard & Poor's (S&P).