Expect a crazy day on Wall Street: "Stock markets were in freefall around the world"

Looks like we're going to keep talking about the economic crisis:

Stock index futures tumbled so sharply on Friday they had to be frozen at several points as global markets tumbled on signs the global economy is in the throes of recession.

Stock markets were in freefall around the world as panicked investors moved to liquidate risky positions. Japan's Nikkei index ended down 9.6 percent and European shares lost 8 percent.

By 7:00 a.m. in New York December Dow Jones futures were down 6.3 percent, Standard & Poor's 500 futures were off 6.6 percent and Nasdaq 100 futures were down 6.8 percent.

All three contracts lost the maximum amount permissible before the start of futures trading in the United States.

Both the New York Stock Exchange and Nasdaq said trading would open as normal at 9:30 a.m EDT.

Frozen? I don't purport to know how this all works, but that just doesn't bode well.