In spite of yesterday's rally, the Dow Jones Industrial Average fell over 400 points when it opened this morning (it's now around 380 points down). One fund manager told Bloomberg News, "It’s a spiral down until it stops. We’re going through these constant day-to-day battles over Europe’s debt crisis, a downgrade in the U.S. and a weakening economy. There’s no positive sentiment regarding a light at the end of the tunnel." more ›

The Dow fell below 8,000 points but then staged a late day rally to close at 8,835.25, up 552.59 points (+6.67%). The Nasdaq and S& 500 were also up 6.5% and 6.92%, respectively. Bloomberg News reports "investors snapped up the cheapest energy shares on record and real-estate companies gained after CB Richard Ellis Inc. raised cash in a share sale." Now some believe 8,000 points could be the Dow's floor--Eckhardt & Co's Peter Costa told CNBC, "I think 8000 is starting to appear to be a very, very strong support level"--while some just don't know what's going on--JP Morgan Chase economist Michael Feroli told the NY Times, "I have no idea. The markets have two minds here. On the one hand, the data continues to be terrible. On the other hand, I think there’s people trying to pick bottoms here.” more ›