Stock market meltdown . . . it's a bloodbath

Stock market meltdown . . . it's a bloodbath

On Friday the Dow Jones took a 280-point nosedive on fears that that losses in the subprime market will spill over into the broader economy and cut into GDP.

Ever since the two Bear Sterns' hedge funds folded a couple weeks ago, the stock market has been writhing like a drug-addict in a detox cell. Friday's sell-off added to last week’s plunge that wiped out $2.1 trillion in value from global equity markets. New York investment guru Jim Rogers said that the real market is “one of the biggest bubbles we’ve ever had in credit” and that the subprime rout “has a long way to go.”-Continue