Market falls sharply Wednesday

After a record gain on Monday and tentative trading on Tuesday, the Dow closed down more than 700 points today. It's unlikely to stabilize anytime soon. The reality is that no one quite knows what's going on. There's $700 billion on the table no one seems to know how to use, and word on the street is that we haven't seen the last of the bank failings. The market's probably not the safest place for your life savings right about now.

Full story by Michael M. Grynbaum at The New York Times:

On Wall Street, stocks dropped sharply, with the Dow Jones industrial average falling 733.08 points or 7.8 percent with the broader Standard & Poor’s 500-stock index down 90.17 points or 9 percent. Many investors fear that corporations — and by extension their workers and shareholders — will face harder times in the months ahead.

The key troubles lie with the American consumer, who, after months of coping with soaring gasoline prices, is now faced with enormous losses in the stock market and an uncertain financial future...