Stocks have taken a beating today, with the Dow off more than 300 points early, the Wall Street Journal reports, but there’s been a noticeable lack of panic among traders. If the current loss holds steady, it will represent just the sixth-worst day this year, despite the massive upheaval of the weekend.
AIG fell 65% after asking the Fed for a $40 billion loan. Other investment banks also saw losses, particularly Bank of America—which saved the day by acquiring Merrill Lynch, but is down more than 14%. The Nasdaq was off 1.7%, and the S&P 2.5%, with all sectors declining. But doom and gloom wasn’t universal; consumer-facing giants like Coca-Cola and McDonalds saw modest gains.