No End in Sight? Dow Closes 449 Points Down

After it became clear the government's bailout of AIG wouldn't stop investors from being worried, the Dow closed 449 points down. Some quotes:

• "There's a clear fright to the market right now," said Anthony Conroy, head of trading at BNY ConvergEx Group, a New York stock brokerage. "It's a virus that's running through the market. If investors don't know what a firm's exposure is [to bad credit bets], they're just running away." (WSJ)
  
• "What does tomorrow bring? Will it start spilling over into consumers? Will there be runs on the banks? There's a million things going on," said Angel Mata, managing director of listed equity trading at Stifel Nicolaus Capital Markets. "Hopefully, we'll see a capitulation soon when everybody throws in the towel." (CNBC)
  
• “There’s a growing sense that there’s no end to this in sight,” Edward Yardeni, the investment strategist, said. (NY Times)
  
• "There is paralysis," says [Todd] Clark [trader at Nollenberger Capital Partners]. "Everyone is afraid that the credit crisis won't go away. It's like the financial sector has been in a serious car accident and the government is treating the patient with band aids instead of surgery." (USA Today)