Economy down turn is coming???? share drop tremendously today

today, just hear from my manager that the index component in whole world is dropping..... what happen?? is the economy down turn is coming?? oh no, i am planning to buy house.. will it effected? after reach home, i faster go online and find some info on it. Oh.... looks like the is not economy down turn. it is because the world biggest bank's (Citigroup) big boss (CEO) resign... this has causing the chain reaction. most of the sector are affected. wow, his resign can effect the whole world... if i were him, donno what will happen to me.. hehe.. high position, high paid.... maybe, i will buy many houses for rent, or be the house developer... hehe....

Biodata (from wikipedia):

Charles O. Prince III, was born in Lynwood, California on 13 January, 1950.^[1] Prince went to the University of Southern California for his Bachelor's degree, Master's degree, and Juris Doctor.^[1] He continued his education going on to receive a Master of Law degree from Georgetown University.^[1]

The son of a plasterer and a housewife, Prince started his career as an attorney with U.S. Steel Corp in 1975.^[1] In 1979, he joined Commercial Credit Company, a predecessor to Citigroup that Sandy Weill took over in 1986.^[1][3] He was promoted in 1996 to Executive Vice President of the firm, which by this point was known as the Travelers Group, now a wholly owned subsidiary of Citigroup.^[4] In 2000, shortly following the 1998 merger of Travelers and Citigroup, Prince was named Chief Administrative Officer of the newly created firm, Citigroup.^[5][4] He was subsequently promoted to Chief Operating Officer in 2001, to CEO and Chairman of Citi Markets and Banking in 2002, and finally to CEO and Chairman.

On Sunday, 4 November, 2007, Charles Prince resigned from his post as CEO of Citigroup due to the failing mortgage industry.

Prince was replaced as chairman by former Treasury Secretary Robert Rubin. Sir Win Bischoff, chairman of Citigroup Europe and a member of the bank's management and operating committees, has been named as interim chief executive.