Fast and Furious is what today was. When the ECB announced their short term plan to deal with sovereign debt the market did not like what it heard. Last week Mario Draghi was saying that the will do everything in their power to prevent the collapse of the Euro, this was not viewed as doing everything and so the market sold off. The takeway today was it could have been much worse. The Dow was down almost 200 points intraday, but by the close we were only off 92 on the Dow and 10 on the S&P.

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