The Dow Jones lost nearly 1,000 points (8+%) at one point during trading this afternoon, before recovering a little (the Dow is now down 510 points). CNBC reports, "One trader, on the condition of anonymity, said he heard fixed income desks in Europe shut down early because there was no liquidity — basically European banks are halting lending right now. 'This is similar to what took place pre-Lehman Brothers,' the trader said." The Wall Street Journal says, "Investors fled everything from stocks and risky bonds and poured money into safe assets such as U.S. Treasurys... 'It's getting pretty ugly out there very fast,' Guy Lebas, chief fixed income strategist at Janney Montgomery Scott. 'There are definitely some major concerns that are escalating this afternoon.'"