With prospects of an auto-industry bailout fading, the Dow Jones fell 5% today, dropping 427 points to close at 7997. CNBC says the "last time the Dow ended below 8,000 was March 2003." The S&P 500 fell 6% and the Nasdaq lost 6.5%. One investment strategist at PNC Wealth Management said to Bloomberg News, "Hideous day. It's hard to put a basement on this thing."