Dow Closes Down 634 Points After Final Plunge -- L.A. Times
Investors piled out of stocks and into a few "safe havens," such as gold and Treasury bonds. The appetite for Treasury bonds suggests that the Standard & Poor's downgrade has not shaken investors' faith in U.S. bonds.
Market experts said the Monday sell-off was sparked by the S&P announcement but was motivated more by growing concerns about the weakness of the global economy.
"It’s really all about economics," said Mike Norman, the chief financial strategist at John Thomas Financial.
The Dow ended the day down 634.76 points, or 5.5%, at 10809.85. The broader Standard & Poor's 500 index fell even more sharply, finishing the day down 79.83 points, or 6.6%, at 1119.55.
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MIDDLE EAST
Syria forces attack Sunni tribal area. Syria intensifies crackdown; activists say 59 dead. Syria steps up assaults on protesters, drawing first Arab League condemnation.
Saudi king recalls ambassador and demands end to Syria bloodshed.
Yemeni President, hurt in bombing, leaves Saudi hospital.
Violence in Yemen sends thousands to lives underground.
Cleric vows attacks if US troops stay in Iraq.
Israelis stage mass demonstrations protesting cost of living.
ASIA
China unrest: Xinjiang's Zhang Chunxian vows crackdown.
Asian stock markets dip on global economic growth fears.
Kazakhstan returns prisons to tough Interior Ministry control after riots and breakouts.
'Two militants' killed in Kashmir clash.
AFRICA
Libya rebels say they hold gains south of capital.
Marange diamond field: Zimbabwe torture camp discovered.
Famine: 'Hundreds of thousands of kids could die'.
Fighting erupts in Somali capital after rebels say leaving. Shabab concede control of capital to Somalia government.
Sharia execution urged for Mubarak.
Zimbabwe PM: Military involved in violence.
Cape Verde, Sao TomevVoters pick new Presidents.
EUROPE
ECB 'to act' over eurozone debt crisis.
Violence escalates in London. More violence in British capital after riots.
Germany, Britain urge resolution to Kosovo crisis.
U.S. concerned at Tymoshenko arrest, hundreds protest. Ukraine's high-stakes trial resumes amid protests.
AMERICAS
Colombia's Santos outlines new tactics against rebels.
No chance of default, US can print money: Greenspan. S&P executive: 1 in 3 chance of future U.S. downgrade.
U.S. expands efforts to fight Mexican drug cartels. US expands role in Mexico's drug war: report.
WikiLeaks: Coast Guard officer is key U.S. man in Cuba.
TERRORISM/THE LONG WAR
Guantanamo prisoners face Ramadan fasting.
Seals had intruded into Pakistan 12 times before Osama raid.
New York beefs up World Trade Center site security for September 11 10th anniversary.
ECONOMY/FINANCE/BUSINESS
AIG sues BofA for $10 billion alleging "massive fraud".
S&P lowers Fannie, Freddie, others tied to U.S.
Bank of America: S&P may downgrade US again in November.
Asian stock markets fall after US credit downgrade.
Boeing rolls out 787 Dreamliner after years of delay.