Frank Norris live blogging the market meltdown
The market dropped 700 points, though it is crawling back up to only a 600 point drop as I write.
Note: Not Frank Norris, the author of McTeague and I refrain from irony.
update #1: correcting to a mere 500 drop as of 3:30 eastern.
update #2: For Luaptifer (well, and Kevin Phillips had a part too!) who taught me about the Plunge Protection Team:
3:58 p.m. | 10,000 or bust: The psychologically important level of 10,000 on the Dow — do you remember that phrase? — was breached today. But in the final minutes of trading the index got up to 10,030, only to fall back. Can it close above 10,000? Does it matter?
update #3: It looks like the "at the bell" (4:02 eastern) final is:
9976.93 -348.45 -3.37%
ending below the psychological, perhaps important, 10,000.