Jobless Claims Data Sends Stocks Plunging Off a Cliff!

Dow is off 150 points! Jobless claims this morning showed losses increasing four weeks in a row, with the moving average also increasing four weeks in a row. Yesterday's ADP data, suggesting that lay-offs are going to begin to accelerate at large companies, combined with tomorrow's anticipated revisions, are horrendous news. Only a great surprise to the upside tomorrow will save stocks from further downside momentum. It's probably not likely, given that the jobless claims this past month were all disappointing.