The Globe and Mail

President Barack Obama leaves after speaking on the economy, S&P downgrade and the loss of Navy SEALs in Afghanistan. The S&P 500 index was down 6.66 per cent Monday and 13.01 per cent over the past five days.

Traders work on the floor of the New York Stock Exchange at the opening bell Aug. 8, 2011. The Dow Jones Industrial Average fell 1.55 per cent in opening trade Monday, less than had been feared after late Friday's historic downgrade of the U.S. credit rating by S&P. It was down 5.55 per cent at the close and 10.9 per cent over the past five days.

Traders work on the floor of the New York Stock Exchange at the opening bell Aug. 8, 2011. By the end of the day the Nasdaq stock market was down 6.9 per cent and 14.10 per cent over the past five days.

The numbers on the TSX board show the continued tumble in Toronto on Monday morning. By end of day it was down 4.04 per cent for the day and 9.85 in the past five days.

People walk past the front of Sao Paulo's Stock Exchange (Bovespa) in Sao Paulo, Brazil, on Aug. 8, 2011. The Sao Paulo stock exchange, South America's largest, plummeted 8.08 per cent on Monday.

System operators of Sao Paulo's Stock Exchange (Bovespa) look into a monitor, in Sao Paulo, Brazil, on Aug. 8, 2011. By close the Bovespa was down 8.08 per cent and 16.86 per cent in the past five days.

A trader works at Intesa Sanpaolo bank in Milan on Aug. 8, 2011. The Euro Stoxx 50 was down 3.72 per cent for the day and 11.82 in the past five days.

A broker reacts at BGC Partners at Canary Wharf financial district in London. The FTSE 100 was down 3.39 per cent on Monday and down 12.22 per cent at the end of five days. The CAC 40 in Paris was also down 4.68 per cent at Monday's close.

A trader reacts in front of the DAX index board at Frankfurt's stock exchange Aug. 8, 2011. Germany's DAX fell 5.02 per cent by Monday's close and 14.82 per cent at the end of five days.

An employee of the Tokyo Stock Exchange reacts as he watches a stock index board at the centre where it monitors stock trading. The Nikkei fell 2.18 per cent by Monday's close and was down 8.70 per cent over the past five days.

An investor looks at an electronic board showing stock information at a brokerage house in Wuhan, Hubei province, on Aug. 8, 2011. The Hang Seng fell 2.17 per cent by Monday's close and was down 9.59 per cent over five days.