Wednesday morning proved worrisome for investors as the DowJones fell 200 points in its opening minutes.

Stock analysts are uneasy about the health of the economy especially after disappointing revenue reports from large companies like Motorola Inc ., and Apple Inc .

Bond prices rose sharply as investors sought after the assurance of government-backed debt.

The Federal Reserve's action reducing the federal funds rate to 3.5 per cent is expected to calm U.S. markets.

Wall Street and corresponding European markets were also down, while the European Central Bank decided not to reduce their interest rates.

In the first minutes of trading the Dow Jones lost 1.58 per cent of its total value, falling to 11,781.95.