The Dow Jones has plunged another 566 points, or 6.5 percent, today, joining European and Asian markets in a race towards the cellar. General Electric and Morgan Stanley were particularly hard hit, with their shares losing over 20 percent of their values. A partial cause of the distress was an auction of Lehman Brothers credit default swaps, which forced investors to liquidate equities to raise funds. The losses occurred as G7 leaders gathered in Washington in order to craft a plan to stem the bleeding.
Read it at The New York Times
