http://www.bloomberg.com/apps/news?pid=20601087&sid=aqt_1ISVdyNw&refer=home

Oct. 9 (Bloomberg) -- U.S. stocks slid and the Dow Jones Industrial Average fell below 9,000 for the first time since 2003 as higher borrowing costs and slower consumer spending spurred concern carmakers, insurers and energy companies will be the next victims of the credit crisis.

General Motors Corp. tumbled 31 percent to a 58-year low and Ford Motor Co. slumped 22 percent as the outlook for car sales worsened. XL Capital Ltd. lost 54 percent and led a gauge of insurers to a 13-year low on concern investment losses will curb results. Exxon Mobil Corp.'s biggest drop in 21 years accelerated the Dow's decline in the final hour of trading as oil retreated below $85 a barrel. Morgan Stanley plunged 26 percent as short sellers returned to the market after a three- week ban.

``People have lost faith in everything,'' said Philip Orlando, who helps manage $350 billion as chief equity market strategist at Federated Investors Inc. in New York. ``We're dealing with an investment community of atheists right now. Valuations no longer matter.''

The Standard & Poor's 500 Index retreated for a seventh day, losing 75.02 points, or 7.6 percent, to 909.92 to cap its longest streak of daily declines since 1996. The Dow Jones Industrial Average declined 678.91, or 7.3 percent, to 8,579.19. The Nasdaq Composite Index decreased 5.5 percent to 1,645.12. Twenty stocks fell for each that rose on the New York Stock Exchange.

Oh boy, this is exciting! I can't wait to see what happens tomorrow. I hope there's another depression, that'd be interesting.

USA sucks ass

USA sucks ass

Why do we suck? Because the rest of the world followed us blindly and now is in the same situation. Sorry you don't live somewhere that has such an impact on the world.

Maybe your ignorant statement should have been, the people controlling America's financial institutions and governing bodies suck. Because I sure in hell had nothing to do with this and have seen this bullshit coming for quite sometime.

i would give a chance of a depression happening at around 15%

Below 9000!?!?!