Recovery is something that we desperately need at the moment but not something that we are going to see in the nearest future as the bears are not letting go of the markets. Asia and Europe are oozing red with major losses in about two years in most of the indexes across the globe. American stocks are also facing a selloff.

Topix lost 0.6 percent.

Hang Seng declined 1.1 percent.

Shanghai Composite dropped 0.7 percent.

S&P 500 futures declined 1.1 percent.

Nikkei Stock Average 225 lost 0.4 percent.

Stoxx Europe 600 lost 1.1 percent and sank to the lowest point in almost 2 years.

FTSE 100 Index declined 1 percent.

DAX Index dropped 1.5 percent and is now also at the worst place in 2 years.

MSCI All-Country World lost 0.4 percent.

MSCI Emerging Market sank 1.2 percent all the way to the lowest point in 20 months.

We saw the recovery of the greenback yesterday and we see the extension of that up-movement today. Dollar gained enough point in order to climb to the highest point in months. Euro and pound on the other hand find themselves at the lowest point in 10 weeks.

Dollar recovered 0.2 percent of its value against the six major peers and is now at the highest point in 17 months.

Euro lost 0.2 percent - $1.1347.

Pound lost 0.2 percent - $1.2794.

Commodities are sadly following the stock market and taking a plunge even lower now. oil keeps on falling while gold is playing a role of a perfect safe haven for the traders.

WTI declined 1.08 percent - $66.6 per barrel.

Barrel of Brent lost 0.77 percent - $76.3.

Gold added 0.37 percent - $1236.9 per ounce.

Silver adds 0.14 percent - $14.65 per ounce.

Platinum lost 0.22 percent - $825.59 per ounce.