Closing Bell Selloff Accelerates: Stocks Crash Again Over 500 Points After FOMC 1 Day Pump

S&P 500 Index Market Crash Down -4.42% as Market Turmoil Continues

Today’s news recap Closing Bell Selloff Accelerates: Stocks Crash Again Over 500 Points After FOMC 1 Day Pump. Market Turmoil Continues; Wall Street Down 4%, Wiping Out Yesterday’s Gains and Then Some; VIX Surge. Cisco’s Q4 revenue beats Street; shares up after hours. Oil up more than 4 pct on supplies, demand outlook. Federal Deficit Tops $1 Trillion for 3rd Straight Year. Obama to meet with Fed chair Bernanke Wednesday. Most Americans believe U.S. on wrong track according to recent polls. U.S. banks face headwinds, aren’t zombies: Dimon. Bond market sees recession, QE 2.5 under way say a Bond Trader. White House seeks ideas to shrink foreclosure glut, “government landord” for Fannie Mae and Freddie Mac forclosures. French bank stocks plunge on market fears. Breaking news “Dow Plunges About 500 Points Near Closing” Moody’s: Some States, Cities Could Face Stress. Citi, BofA Fall as Financial Stocks Slide. North, South Korea Trade Artillery Salvos. “Gold hits all time highs” over 1,800 an ounce. Federal Reserve to Keep Key Rates at Record Lows Through Mid-2013 Amid Weaker Economy. Obama Pivots Back to Job Creation With Few Tools to Spur Growth. Falling Oil Prices a Silver Lining for Obama in Sluggish Economy. HSBC to Reap $2.4 Billion Gain From Sale of U.S. Card Unit to Capital One. Bernanke Borrows From Carney’s Stimulus Playbook With Interest-Rate Pledge. Bernanke Indicates Fed Dissenters Won’t Impede Additional Asset Purchases. Crude Oil Rises From 10-Month Low on Fed Speculation, Inventory Decline. Libya’s Qaddafi Faces Fourth Month Without Any Gasoline Shipments by Sea. With Such Market Volatility, Should You Move Into Cash? SMF told people to get short and go to crash prior to the decline.