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When the government bailed out American International Group, there was little talk of a widespread downturn in the insurance industry.
Mr. Paulson first spoke about the market turmoil early last week and then went silent until an interview with The Wall Street Journal, which appeared on Thursday, saying the current market chaos might lower the national growth rate but would not cause a widespread downturn.
An isolated ripple or two in countries with specific, well-known challenges, such as India, might be containable (though domestically devastating); a more widespread downturn among emerging economies, prompted by the financial turmoil, would be likely to hit the US itself, potentially forcing the Fed to reverse course.
Technology stocks mostly managed to stay above water, with the exception of a widespread downturn for Internet stocks.
The recent widespread downturn in the housing market and increase in adjustable rate mortgages have combined to force a dramatic increase in home foreclosures and abandoned homes and produced urban landscapes dotted with an expanded number of new mosquito habitats.
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More recently, until the widespread economic downturn, there was an influx of the Russian capitalist class.
While the pain has been widespread, the downturn has been particularly perilous for Saks and Neiman Marcus.
The firm, Gartner Dataquest, which is based in San Jose, Calif., said the cellular phone industry had been affected by widespread economic downturns in regions where the growth of mobile phone use had been high, including Latin America and Europe.
At the end of his decade-long inquiry (which resulted in a book and a short film, made in collaboration with MediaStorm), Ten Hoopen was troubled by the problems he had encountered: the effects of the economic downturn, widespread meth addiction.
As we enter a new year, the world continues to be in the grips of dual crises: a stubborn economic downturn with widespread job losses combined with accelerating global warming threatening vulnerable communities.
The most striking is that economic weakness is more widespread than in previous downturns.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com