The ECB plans to impose stricter conditions on its lending in February but that will be difficult while confidence remains low.

ECONOMIST: Are European banks insulated from the panic in America?

In light of this recurring pattern, we now have the confidence to say the Dow will not return to its March 2009 low.

FORBES: Dow Never To See 2009 Lows Again But Gold Bull Has Miles To Go

The Conference Board, a New York-based business research group, reported Tuesday that its Consumer Confidence Index fell to 37.7 in January, an all-time low going back to the index's inception in 1967.

CNN: Obama tells GOP no compromise on tax rebates

Spain's economy sank into recession after its property crash left millions of low-skilled workers without a job, and general economic decline eroded business and consumer confidence.

BBC: Spanish unemployed