I’m sure in a matter of days, weeks or months, we’ll be calling this new Black Monday. The Crash of 2008. Stock markets around the world plummeted today; the U.S. markets alone losing $1.2 trillion in value. The Dow Jones Industrial Average closed down 777 points (7%) — it’s biggest single-day point drop ever — while the S&P and NASDAQ both closed down 9%. Wachovia bank is gone (snatched up by Citigroup). The $700 billion emergency financial system rescue bill was voted down in Congress 228-205.
And it’s not even over yet. It’s only Monday.
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