Yesterday's bit of good news wasn't enough to lift the markets. China and Europe's economic crises coupled with warnings of a double dip from a reliable researcher didn't bode well for today's markets. Both global markets and Wall Street are on track for the worst quarter in three years, reports Reuters.

Stocks have been battered by signs of an global economic slowdown and fears that a debt default by Greece could spark a credit shock similar to that caused by the collapse of Lehman Brothers in September 2008, sending markets into a tailspin.

Today's Dow closed 241.58 points down falling below the 11,000 mark,  reports Market Watch.