market sentiment

This quote from Bloomberg just about sums it up:

``It's a very panicky market,'' said John Kattar, who oversees $2 billion as chief investment officer at Eastern Investment Advisors in Boston. ``There's a growing feeling that the problems are unknowable and unquantifiable, and that there's no way of dealing with it except through the passage of time.''

It's official. The market is depressed. It could very easily slide into a bear market for the next few months.