The Royal Bank of Scotland has advised clients to brace for a cataclysmic year and to sell everything except high quality stocks. The banks' credit team says markets are flashing the same stress alerts as before the global financial crisis in 2008. Experts at RBS believe China has set off a major correction in global markets, and that is going to snubble.

 

 

And let us take a close look at markets now. The Dow rallied in late trade closing 129 points high. The Nasdaq and S&P 500 also up 1 percent. In London, the FTSE finished 57 points higher. Commodity prices, let us take a look at. WTC is trading at 30 US dollars a barrel. Tapis Crude 32 US dollars a barrel. Gold is at 1089 US dollars an ounce. The Australian dollar is at 70 US cents, 64 Euro cents, and 68 pence sterling.