"Actually, I believe that temperatures will warm up a bit early this year because of the brutal sub-zero temps all across the country, " he said.

CNN: Shadows aren't just for groundhogs

"I think the market is now a little bit concerned that it is not just isolated to sub-prime, " said George Goncalves, strategist at Morgan Stanley in New York.

BBC: A house for sale in Illinois

Sub-Saharan Africa has sometimes perked up a bit, only to slump again when commodity prices drop and the world economy falters.

ECONOMIST: Africa's economy