Stock markets drop worldwide

US markets slid below 7000 for the first time since 1997.Asian markets are also down half to one percent.There are no signs of respite.Nifty is expected to open in negative.Nifty below 2731 is weak ,we are way down below that.Any recovery looks like will be short lived.Bank Index has fallen the most last 15 days.Worldover there is no respite for financials.Trend continues to be down.Looks like soon we will test 2500 in nifty.We might see occassional techincial bounces,use that to buy nifty puts.