Fasten Your Seatbelt: Wall Street's Bumpy Ride

Reuters reports that investors fled stocks onThursday, putting the S&P 500 into correction territory, onescalating worries about the U.S. economy and Europe.

All three indexes were down 2 percent, falling more than 3 percent each at one point, and declining stocks were beating advancers on the New York Stock Exchange by 11 to 1.
"This morning, the dam broke. Capitulation sell-off. All asset classes, elevated volume, indiscriminate," said Peter Kenny, managing director at Knight Capital in Jersey City, New Jersey.

Analysts predicted further losses ahead, given the strongdegree of pessimism in the market…

http://www.reuters.com/article/2011/08/04/markets-stocks-idUSN1E77317720110804