We look for U.S. businesses to pull back in the coming two quarters, with investment spending expected to reverse course at an 8 percent annualized pace. We also expect payroll losses to average 150,000 per month over this period, double the pace thus far this year.

—Bruce Kasman, Chief Economist, JPMorgan

The big question for Latin America is how long and deep is this cyclical downturn going to be, and how much is it going to reduce commodity prices

—Nicholas Field, who helps oversee about $18 billion in emerging-market equities at London- based Schroders

Commodities are falling because of the realization that the economic downturn is spreading to Europe and Japan. A spillover into Asia is becoming more likely, which means things will get even get worse.

—Adam Sieminski, Deutsche Bank’s chief energy economist, in Washington

The bleak economic picture is hitting equities and that’s having an impact on commodities. It looks like Europe’s economy is following ours lower and has further to drop, which is strengthening the dollar. The soaring dollar is leading to an unwinding of the commodity trade. That, coupled with deteriorating economic prospects, is putting pressure on commodities across the board.

—John Kilduff, senior vice president of risk management at MF Global