Lowest Close Since 2002

Financial stocks led the Dow lower today closing down 89.68 or 1.2% to 7465.95; NASDAQ down 25.15 or 1.71% to 1442.82; S&P500 closed down 9.48 or 1.2% to 778.94

Read the full story here: Yahoo Finance story

Contrary to my previous post, there wasn't a catalyst such as GM going into bankruptcy that sent stocks into that downward spiral but we did however see a breakout on the downside of the Dow and the other major indexes due to the uncertainity in the market about the U.S Government plan to get out of recession. I feel that until we get a better picture of what that plan is, I think we will see more downside of U.S equities.