Dow Falls 500 Points After Fed Chairman's Remarks

The Dow has fallen 5.73%--and the Nasdaq is down over 6% as is the S&P 500--thanks to Federal Reserve Chairman Ben Bernanke's speech to the Economic Club of New York earlier today. While officials have repeatedly said that the bailout will take a while to work, Bernanke also gave a grim look at the future, "Our export sales, which have been a source of strength, very probably will slow." Still, "Americans can be confident that every resource is being brought to bear to address the current crisis.” CNBC also thinks that there's "an openness to further interest-rate cuts." Also affecting the Dow: The disappointing news about retail sales, producer prices, core PPI, etc...