New York, NY —
Stocks dropped through the floor today as Democrats chose to delay action on bailing out the auto industry. The Dow sunk even further below 8,000, down 445 point to 7552, a 5.5 percent drop. The Nasdaq also fell more than 5 percent down 70 points to 1316. The S & P 500 was the biggest loser today down nearly seven percent, a loss of 54 points to 752. James Kwak, one of the authors of the blog "Baseline Scenario," recaps the financial news of the day.
