Cocoa Collapse

Brief Rally, Then Complete Collapse

Amazing day! After a brief rally that cut about half the day's losses in half with about 45 minutes remaining in the session, the market completely collapsed with just 15 minutes left, making new lows for the day. The Dow finished down more than 200 points!

ECB Pours Cold Water on Stocks

WSJ Headline: Eurozone on Credit Watch

S&P Downgrade Watch Collapses Stocks

Bloomberg reported today that S&P will imminently place all 17 Euro area countries on downgrade watch. The Dow has sold off more than 140 points since then.