The Market Is Getting Pounded

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The Dow is off 151.

The S&P and the NASDAQ are both off about 1.2%.

This comes amid some serious weakness in Europe (Italy off 2.4%). Emerging markets are getting hammered.

Japan fell 1.5% after no more action from the Bank of Japan.

In general, ugly day on pretty much every front.

For a good background on the factors driving the market lower, see Mohamed El-Erian on the sucking sounds that are getting louder and louder.

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