The dollar fell below parity with the Swiss franc for the first time on Friday as fears about more credit turmoil and a U.S. recession sparked broad selling of the U.S. currency.

The dollar fell to an all-time low of 0.9987 Swiss francs , according to electronic trading platform EBS. It last traded at 1.0026 francs.

First the Canadian dollar, now the franc.

This is bad folks.. America is slipping..

Dollar falls below parity vs Swiss franc