THIS IS A RUSH TRANSCRIPT.  THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED. VINCE CELLINI, CNN ANCHOR: Let's go back now. David Haffenreffer is with us from New York, and he's going to bring us up to speed on the effect of the financial world -- David.</s>DAVID HAFFENREFFER: Indeed, Vince. Thank you. All of the financial markets, as you might imagine, are closed in the U.S. today. Even trading of U.S. stocks that trade over the electronic trading firm, Instinet, have been halted. European markets are open for business at this early hour. Early in the session, many of the major indices were at three- year lows. They moved back into positive territory at one point, but have for the most part turned negative once again. Here's a look at the latest figures at this point: In London, the FT-100 index is basically unchanged at this point. We've got the XETRA-DAX in Frankfurt down by 28 points. In Paris, the CAC-40 lower by 71 points, a decline of 1.6 percent. The Zurich Swiss market index now lower by 1.1 percent. A look at how the dollar is trading against the other major global currencies. And the Bank of England has -- says the U.S. Federal Reserve has now urged central banks to limit dollar trading to help cut back on the turmoil in the financial markets. We should note that the dollar fell about 2 percent vs. the euro yesterday after the incident in downtown Manhattan. At this point, we've got the euro weaker: down about a third of a cent there at 90 cents</s>CELLINI: David, we keep hearing that word "recession," and certainly we'll be in touch with you throughout the days ahead. TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com.
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