OutFront tonight: the plunge.
The Dow slid 251 points today. It was the second-worst day so far this year.
The reason? People are afraid. They're scared of things spiraling even further out of control in Europe. They're scared of the economic recovery here at home grinding to a painful, painful halt.
But ultimately, they're afraid that Congress is too deadlocked to ever do anything about it. An unlike FDR said, there is more to fear than fear itself. The credit agency Moody's downgraded the credit of America's five biggest banks today specifically because of the uncertainty in the global economy right now, just the first of many real world consequences that will emerge if the fear is allowed to grow unchecked.
Congress must act, and soon.