"The trend seems to be worsening, " said Peter Cardillo, chief market economist at Rockwell Global Capital.
NPR: Wall Street Stocks Little Changed; Best Buy Soars
"Huge write-downs caused the ouster of Stan O'Neal and Charles Prince, " speculated Peter Cardillo, a market analyst at Avalon Partners.
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"The market was looking for an excuse to pull back, and they certainly got it with the Fed comments" and Chinese data, said Peter Cardillo, chief market economist at Rockwell Global Capital.
WSJ: U.S. Futures Join Global Slide
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