Dow slips below 8000

Guess Wall Street is signing onto the warnings being delivered by U.S. automakers. The Dow was down more than 400 points. From the NYT:

"It’s painful,” said Howard Silverblatt, senior index analyst at Standard & Poor’s. “A lot of people have pulled a lot of cash out. They’re sitting on the side. It’s all I hear all day: ‘Where can I hide?’”