Ouch

Don't look at your portfolio now, but the stock market took another huge hit today, Here is the story from Bloomberg.

From Bloomberg:

The S&P 500 lost 44.18, or 3.2 percent, to 1,336.64. The Dow Jones Industrial Average decreased 370.03, or 2.9 percent, to 12,265.13. The Nasdaq Composite Index slipped 73.28, or 3.1 percent, to 2,309.57. Shares also retreated in Asia and Europe. Almost 11 stocks fell for every one that rose on the New York Stock Exchange. Shares also declined on signs the U.S. slowdown is spreading to Europe and Asia. Europe's service industries grew at the slowest pace in more than four years and retail sales dropped the most since 1995, reports showed today. Asian equities fell as Yamaha Motor Corp. said operating profit will slide for the first time in eight years amid falling U.S. demand. Commodities producers fell after the contraction in the services industry prompted crude for March delivery to fall 1.8 percent to $88.41 a barrel. Gold and copper prices also dropped.


TK: Pity Wall Street, but it is not a bad time to be a farmer of grains and oilseeds. The price of wheat is $10.10 per bushel, compared with $4.62 a year ago. Corn is about $5 per bushel, up from about $3.80 at the same time last year. Soybeans are $12.38, compared with $7.02 the same time a year ago.