Specialist Justin Bohan holds his head as he works at his post on the floor of the New York Stock Exchange, Thursday Oct. 9, 2008. Stocks plunged in the final minutes of trading Thursday, sending the Dow Jones industrials down more than 675 points, or more than 7 percent, to their lowest level in five years after a major credit ratings agency said it was considering cutting its rating on General Motors Corp. (AP Photo/Richard Drew)
New York (AP) Investors look for the frenetic selling on Wall Street to continue today. The Dow Jones industrials futures plunged 185 points ahead of the opening bell in New York.
Frozen credit markets and a loss of confidence in the world's financial system have caused the Dow to drop 21 percent in just 10 trading days.
Going into today's session, preliminary figures show losses for the year add up to a staggering $8.3 trillion.
Global Markets continued the intense selling today. In Europe, the FTSE, DAX and CAC were all down. In Japan, the Nikkei was plunged nearly 10 percent. Markets in Austria, Russia and Indonesia suspended trading, and the rout in Australian Markets caused traders to call it “Black Friday.”