Dow Falls Below 6800

Stocks fell today pushing the indexes to twelve year lows with the Dow blowing past 7000 in the open to settle below 6800 (6763.29). That was a nearly 300 point loss or more then 4% (299.64 / 4.2%). The Dow has lost more than half of its value from its high. All of the major indexes dropped between just under 4% to more than 5.33%. The S&P 500-stock index hit a low not seen since the end of 1996. Indexes around the world fell nearly 5%.

AIG lost some $61.7 billion in the last quarter making it the worst one-quarter performance for any company in US history. It also brings their total losses to just under $100 billion. And the US government is ... throwing more money at them!?! What could possible go wrong with that investment.

More at http://online.wsj.com/article/SB123599406229708501.html, http://www.bloomberg.com/apps/news?pid=20601087&sid=a11QFJcR8HSI&refer=worldwide, and http://www.bloomberg.com/apps/news?pid=20601087&sid=aHP4RwNPNT2k&refer=worldwide.