So it turns out James Glassman was right after all. Modulo 30,000, that is:
NEW YORK (MarketWatch) -- U.S. stocks saw losses accelerate in the final minutes of trade on Monday, with the Dow industrials losing more than 300 points to trade at fresh 12-year lows. The Dow Jones Industrial Average fell 300 points, or 3.4%, to 6,761, a level it last traded in January of 1997.I hope this ends soon.