The Sky Is Falling! The Sky Is Falling!:UPDATED

Well no, actually, it isn't.

"The country's economic growth during January through March was the same as in the final three months of last year, the Commerce Department reported Wednesday. The statistic did not meet what economists consider a definition of a recession, which is a contraction of the economy. This means that although the economy is stuck in a rut, it is still managing to grow, even if slightly."

UPDATE:
Stocks rise and Dow crosses 13,000 as dollar advances
Wall Street mood swing: Gloom gives way to (premature?) optimism
Employers cut fewer jobs in April, jobless rate falls