When Will the Pain Stop. . .

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Thanks a lot Europe. Dow nosedives 550 points, S&P down almost 5 percent.

Procter & Gamble went from a modest 3 percent decline to a 25 percent drop in a matter of seconds. Most likely a trading glitch, but still someone probably made some serious dough. Goldman dropped about 5 percent before regaining some ground.

Update: CNBC Reports a Citigroup trader was responsible for a mistaken "fat finger" trade that caused "million" to turn into "billion." Citi told CNBC it has no evidence of such a trade.

Financial stocks and tech getting killed. Where will it end? Predict the close. Ready go.

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