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Brown Monday: open thread on today’s economic panic.

Floyd Norris, liveblogging the panic today at the NYT — The Great Crash of 2008:

2:45 p.m. ET: If the S.&P. 500 closes where it is now, (1009.07, down 8% for the day) it will have lost more than 13% over the past three sessions. The only other time declines of that magnitude occurred since World War II was in the crash of 1987. Prior to that, the last one was in May 1940, when France fell to Germany.

Discuss, and breathe deeply, folks. We’re gonna get through it together. (ht for the hed @Howard Rheingold)
Video: “The 1929 Stock Market Crash newsreel.“

UPDATE: Our community manager Teresa Nielsen Hayden points to this NYT analysis by Joe Nocera as “the most lucid explanation” for what’s going on:

This is what a credit crisis looks like. It’s not like a stock market crisis, where the scary plunge of stocks is obvious to [...]

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