Dow Plunges More Than 500 Points, Lowest Level Since 2004

So much for that bailout. The Dow Jones Industrial Average is an express elevator headed down, down, down.

The Dow Jones industrial average fell below 10,000 for the first time since 2004 after losing more than 500 points in the first hour. The index has lost more than 1,100 points — or about 10 percent — in slightly more than a week.

At 12:15 the Dow is at -477 and hovering around 9900.

The remarkable slid comes after a morning announcement from the Federal Reserve, which said it now lend up to $900 billion in credit. Overseas markets are worse, stocks are significantly down after European governments "were forced to scramble to save several major banks and lenders from collapse."

What do Bush and McCain say? The "fundamentals of the economy are strong" ...

Comments

[Dennis]

Nothing to see here. Keep moving.