Falling stock markets, rising unemployment and soaring oil prices. The world's biggest economy is on the slippery slope to recession.

The US economy has suffered massively. Oil has increased to a record $139 a barrel, the dollar has slumped, and as a result, share prices have plummeted.

Worse still, George Bush, the US president, has announced the monthly US unemployment rate has taken its biggest leap in two decades. 

Rob Reynolds reports.