That Thud Was the DJIA

The Dow Jones Industrial Average slid 778 points for its biggest point drop ever as $1.2 trillion in market value was erased from American equities.

Wachovia Corp. tumbled 82 percent after the bank was sold to Citigroup Inc. in a deal brokered by the Federal Deposit Insurance Corp., sending shares of Sovereign Bancorp Inc. down 72 percent and National City Corp. 63 percent lower.

Goldman Sachs Group Inc. and Morgan Stanley, the two largest Wall Street securities firms, fell more than 12 percent.

◊◊◊◊ Now: Gold @ $906.50, Silver @ $13.13, USDX @ 77.68 ◊◊◊◊
◊◊◊◊ Now: DJIA 10,365.45

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