Aside from gold, almost everything traded had a down today–and in some cases way down. Nearly every S&P 500 component fell at least for a time during the trading day deeply in the red, with blue chips dropping more than 600 points as worldwide debt fears rocked Wall Street Monday–with little turnaround after public comments on the S&P downgrade Friday. As the market closed, the Dow had its biggest loss since the fall of 2008–dropping 5.49 percent to close at 10,816.
Gold, though, jumped four percent.
The Dow fell below 11,000 for the first time since last November, part of a widespread selloff that “now rivals almost anything we’ve seen in the post war era,” Daniel Greenhaus, chief global strategist at BTIG, told Fox Business Network.
Watch reaction to the markets–and the President–here, from FBN:
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