"Today might be the day where everybody throws in the towel," said Peter Cardillo, chief market economist for Avalon Partners. "People are saying 'I've had it, I can't take it anymore, I'm selling everything.'"
Hogan cited a 0.5% annual rate drop in the United Kingdom's third-quarter GDP as one key reason for the selloff.
The market is tanking. Alan Greenspan says he didn't see this coming. What did he expect to happen when he flooded the world with fiat greenbacks and tinkered with interest rates to promote debt and discourage savings?
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