Photograph of a computerized display showing the FTSE 100 index in London today by Akira Suemori/AP

Stock markets around the world fell today, hours after the U.S.'s Dow Jones Industrial Average slid 668 points to end yesterday under 8,600. The NY Times says the "Global Markets Dive in a Relentless Selloff"--and a German equity strategist explained, "We are fighting really dire fundamentals. It will require restoring trust and confidence before a sustained rebound will be possible.” USA Today also emphasizes the lack of confidence is what is driving the crisis.

Japan's Nikkei fell 9.6%, Hong Kong's Hang Send fells 7.19% and right now, Britian's FTSE 100 is down 7.2%, the French CAC-40 is 7.8% down, and the German DAX is down 8.2%. (Here's CNBC's world markets page.)

Today, U.S. stock futures suggest "another sharp day of losses" today. Investor Wilbur Ross told CNBC, "You're not going to fix the stock markets until you fix the credit markets. So I hope that the government comes out with some broad-based things, be it some combination of insuring interbank lending and/or putting a limit on insured deposits all the way up."

Update 9:30 a.m.: The Dow is down 539 points.