DOW drop in, but keep it under 8000, please?

Its a benchmark… backward! The DOW has finally given us a psychological threshold of de-evolution:

“Its painful,” said Howard Silverblatt, senior index analyst at Standard & Poors. “A lot of people have pulled a lot of cash out. Theyre sitting on the side. Its all I hear all day: Where can I hide?” [nytimes]

The worst sectors in the falling market were financial, transportation, and consumer stocks, almost 9%, and our glorious overlords of Citigroup took a 22% hit. Wowie! How low can it go?

Citigroup-Americaplex, we salute you!