It took a while to happen, but what started with a financial collapse in Asia has become a global stock market implosion. High tech, banks, blue-chip manufacturers, and more are being swept away by a wave of pessimism. This year's Special Report on Global Investing offers some strategies to follow. Even if Asia doesn't recover soon (below), are there defensive stocks you should hang on to if you want to keep investing worldwide? Will the euro provide some support for Europe? And will the bloodbath in Latin American stocks choke off the region's recovery?

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