Still Reeling (at SmartMoney.com)

Active Discussions on SmartMoney Crude Falls Again: Oil futures drop to near $78 a barrel. GE Meets Forecast: Profit fell 22% in Q3, even as sales rose. The Lowdown Another global selloff has put more downward pressure on the U.S. market, sending stocks tumbling toward their eight straight session in the red. The major indexes were sharply lower Friday afternoon, leaving traders and analysts wondering when the bear market might reach a bottom. By 2:20 p.m., the Dow Jones Industrial Average had lost 432 points at 8147. The Dow dropped below 8000 twice in intraday trading. Meanwhile, the Nasdaq had lost 75 to 1570, and the S&P 500 had fallen 52 to 857. Once more, every sector posted heavy losses. Energy stocks posted the biggest declines as oil prices plummeted. By 2:07 p.m., crude traded down $8.51 at $78.08 a barrel.... [read full story]