Stocks Plummet on Global Panic

Stocks fell at the open, as investors continued to fret about the financial system. The Dow dropped 150 points, while the Nasdaq and S&P lost around 2.9% each. The declines follow similar losses overseas, with the Nikkei down 1.4%, the Shanghai Composite down 2.9% and the FTSE 100 down 2%. Gold climbed to a 7-month high as traders scrambled for safety. (Read more stock market stories.)