Stock market correction underway..ouch

http://seattletimes.nwsource.com/html/businesstechnology/2011916719_stocks21.html

Fears that the fragile American economy may be threatened by the financial crisis in Europe sent the stock market into sharp decline Thursday that left anxious traders wondering where the pain would stop.

The 376-point drop punctuated what amounts to a slow-motion crash that began in late April. The Dow Jones industrial average has now fallen more than 1,000 points in a matter of weeks, signaling what is known as a "correction" — a sort of mini-bear market typically defined as a 10 percent decline in a short period of time.

At the close, the Dow Jones industrial average was down 376.36 points, or 3.6 percent, at 10,068.01. The Standard & Poor's 500-stock index fell 3.9 percent and the Nasdaq composite has slid 4.1 percent.

After a nice run up the Dow is dropping like a stone right now.