The AP Reports that global markets are tumbling today on the news that Bear Stearns is being bailed out by JP Morgan Chase:

Global markets plunged Monday on news that JPMorgan Chase, backed by the U.S. government, had to rescue troubled Bear Stearns, with investors struggling to gauge how much worse financial markets could get.

"Its difficult to call where the bottom is," said Richard Hunter, a broker at Hargreaves Lansdown in London.

The New York Times is...