Seems to have stabilized a bit around a 7% decline, it is hovering around 8570 now.

The Fed has one bullet left, drop rates to 0, it *almost* worked for the Japanese. 😛

It looks like a lot of sheep took Jim Cramer up on his advice on selling out. I don’t think we’re quite at catipulation just yet, as there are still a lot of managed accounts trying to hold on (plus we’ve only had one New Yorker take his life), but we’re on the brink.