"Stocks plunged, driving the Dow Jones Industrial Average down more than 300 points..."

"... as investors appeared to lose faith in the ability of the world's policy-makers to revive the global economy and stave off a rolling debt crisis in Europe... Investors across the globe have been buffeted by economic and political turmoil in recent days. In the U.S., fears have turned from worries about a possible default by the U.S. government to a weakening economic outlook."

"You've got a weak economy, the aversion of a debt crisis but not a solution, and you've got the rest of the globe starting to implode in a lot of areas, especially Europe," said Barry James, president and chief executive of the James Advantage Funds. "It's natural that people would react with fear."

Wall Street Journal.