Market plunges

This could be a bad one. The Dow is down by around 240 points, although it does shows some signs of stabilizing (as of 10:15). Perhaps we've finally reached the point where higher borrowing costs - and with it the likely slowdown in takeovers - are finally eating into the market psyche. And it's not just U.S. markets - the bad news is global. In New York, trading curbs, which are meant to reduce volatility, have been put into effect. (Bloomberg)