Dow Plummets 513

All major indexes are in negative territory for the year
By Evann Gastaldo,  Newser Staff
Posted Aug 4, 2011 10:26 AM CDT
Updated Aug 4, 2011 3:08 PM CDT
Traders work on the floor of the New York Stock Exchange on Thursday, Aug. 4, 2011 in New York.   (AP Photo/Jin Lee)
camera-icon View 1 more image

(Newser) – The only good thing to say about today's stock market is that it's finally over. The Dow fell a staggering 513 points, or 4.3%, to close at 11,384. It's the worst point drop since December 2008 and the worst percentage drop since February 2009, reports MarketWatch. The S&P 500 plunged 60, or nearly 5%, and NASDAQ dropped 137, about 5%. All three major indexes are now in the red for the year.

"You've got a weak economy, the aversion of a debt crisis but not a solution, and you've got the rest of the globe starting to implode in a lot of areas, especially Europe," one expert tells the Wall Street Journal. "It's natural that people would react with fear."

My Take on This Story