Dow tumbles almost 200 points

Hard to know how much of this is fear of a default or an ongoing fear of the economy's rocky recovery - or a combination of the two. Other than the nonsense in Washington, there was some discouraging economic news, with a drop in durable goods orders in June, and a Fed survey showing that growth slowed in eight of the 12 regions it monitors (though not so bad in the Western District). This Friday the government releases second-quarter growth numbers, and they're not likely to be good - another reason to worry. Anyway, the Dow is 12,302.