BREAKING!!!!!!!!!!!!!Dow off 500+ points !!!!!!!!!!!!!!!

Treasurys climbed for a third day; bank stocks were slammed in the U.S. and Europe; the U.S. dollar gained and the euro lost ground.

“Investors have been poking at the euro, saying they have to have a legitimate solution, they are not looking for papering over the problem, and they won’t rest until they figure out a way to devalue the euro or allow constituent countries to go back to their respective currencies,” said Jack Ablin, chief investment officer at Harris Private Band

The tech sector dropped on Wednesday, with shares of Hewlett-Packard, Microsoft, Intel and IBM posting sizable losses. Plus: a quick look ahead to Cisco earnings after the close, and more on Apple briefly surpassing Exxon in market cap value. MarketWatch's Dan Gallagher reports.

The benchmark indexes came off session lows after Societe Generale, the second-biggest bank in France, issued a broad denial of all market rumors following speculation about the nation’s credit worthiness, which sent the expense of insuring French government debt to a high.

The Dow Jones Industrial Average DJIA -4.62% fell as much as 468.22 points, and was lately off 336.11 points, or 2.9%, to 10,903.66, with all of its 30 components falling. On Tuesday the blue-chip index closed with a 429.92-point gain.

Bank of America Corp. BAC +0.37% shares, which had slid as much as 11% during the day, were lately off 8% after Brian Moynihan, its chief executive officer, told a conference call the lender is positioned to perform even in a slower recovery, but also said economic fundamentals have improved for the country and his bank from a year ago.

The Standard & Poor’s 500 Index SPX -4.42% dropped 31.15 points, or 2.7%, to 1,151.38, with financials slammed the hardest and utilities faring the best of its 10 major industry groups. Read more about financials.

The Nasdaq Composite Index COMP -4.09% shed 59.84 points, or 2.4%, to 2,422.68.

For every stock on the rise two fell on the New York Stock Exchange, where 1.5 billion shares traded as of 3:25 p.m. Composite volume neared 6.6 billion.

“I think this is investors’ indictment of central governments. I thought maybe central banks commanded a bit more respect, but investors worry that we’re going to enter a downturn without the assistance of fiscal stimulus,” said Ablin.

The Federal Open Market Committee on Tuesday said it would keep benchmark interest rates near zero to help prop up a recovery that is progressing slower than the central bank had anticipated.

On Wednesday afternoon, President Barack Obama and Federal Reserve Chairman Ben Bernanke met at the White House, one of a series of meetings on the economy after the downgrade of the nation’s credit rating and partisan battle over the debt ceiling

Tomorrow watch the plunge

you think so how far

600 to 1000 point drop tomorrow

That is of course if they let the markets even open.

i will keep ur going until someone responds

What makes you think this? I will say this much tomorrow is a big day