Stocks finished right near the day’s lows after a big drop first thing from European sellers (4th day in a row), the routine recovery and then another sharp leg down.
Scorecard: S&P 500 -2%, DJIA -1.5%, Nasdaq -2.7%, Small stocks -2.9%. Bonds were lower, rates higher. Commodities were down slightly, including gold. The dollar was up sharply, bouncing off a technical support level.
As I wrote earlier today, expect down days until a deal on the debt ceiling.