U.S. credit rating downgrade & Europe’s debt woes Monday.
The Dow Jones Industrial Average fell over 600 points yesterday. The Dow’s one-day drop of more than 600 points was its biggest point loss in a single day since December, 1 2008.
In Prelimnary closing figures the Dow Jones Industrial Average sank 632 points at 10813, ending at the day’s low.
The Dow plunged another 100 points to hover around 500 after the president’s speech.
As stocks choked, gold was on fire, up by $68 to a record $1,720 an ounce