The Dow fell 172 points, which brings the index below 12,000 for the first time since March and marks the sixth straight week of market declines. From WSJ:
"At the moment there doesn't seem to be any place to hide," said Ted Weisberg, president of Seaport Securities. "Best-case scenario, [traders] don't know what to do. Worst case, they're simply throwing in the towel because they're frustrated. Nothing seems to work."
Of course it's worth pointing out that a significant pullback has been long overdue - perhaps a full-blown correction, which would be a 10 percent drop from recent highs. (At this point, the Dow is down 6.5 percent.) Also worth remembering is that the economy has been slowing down - not to the degree that some would claim, but enough to be noticed, even on Wall Street.