The extend span of recession is known as depression. The state of depression is risky for the economy of any country. When the recession or depression affects the global market, leaves the drastic effects everywhere. The global markets are already deeply affected and depressed, sank further and investors appeared unconvinced that vague commitments agreed to by world political leaders will take the preventive measures to avid recession. The after effects of recession are always very dangerous and it causes mainly on the employment of the people. Millions of people are axed from their jobs since there is no business in the market. No demand for the product leads to stop the manufacturing of those products and the people associated with manufacturing units have to be retrenched. The commercial activities of the most companies go stagnant and as a result the market experiences the draught of customers. The buyers on the other hand opts for the cheaper alternatives of their consumer products and they economies on their expenses to survive from the difficult phase of market depression. Failure of the G20 meeting to produce any concrete measure or solution to deal with the global recession has caused markets to continue to trade with a sell bias to start as early as possible. Bay street’s benchmark S&P / TSX combined index, following the lead of market in Europe and most of Asia. The stock market crash depression was responsible to drop more than 260 points, pulled down by a further slump in world commodity prices including oil which observed a sharp fall to less than 55 dollars per barrel. Fuel is such a commodity that affects everywhere in the world. Wall Street’s blue-chip Dow Jones industrial average, after ups and downs ended the activity due to stock market depression in the red and down more than 220 points.

Also weighing on markets was news that Japan had slipped into a technical recession with back to back quarterly reduction in its economy in the third and second quarters and measure for U S manufacturing activity that plunged to an all time low. While the U S is facing its first consumer-led recession since early 1990s, Canada would be dragged into no more than a technical recession and nothing like the early downturn of 1990 as the Bank of Canada was reducing the rate of interest instead of raising it. The government is also now in a better financial state to excite the domestic economy. The stock markets of the most countries become inoperative due to lack of business. Most companies are interested to sell their equity but buyers are not available to buy the stock even at the discounted value. People are trying to sell off those weak shares which do not yield anything from the investment as survival becomes the major problem for everybody.