The Dow had its worst fall since Dec. 2008 and every S&P 500 stock fell after Standard & Poor’s downgraded the US. But there were other big catalysts: a slowing economy, Europe’s escalating debt problems, the prospect fear will feed on itself, as it did in the ’08 crisis. The Vix volatility gauge is up 90% this month. Gold, at $1,713.20 an ounce, set a record.
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