Dow Landslides 264 Points and Closes Below 17,000

Stocks started poorly this morning and then fairly fell off a cliff.  Although S&P futures opened flat, new that August durable orders were off by 18.2% took traders by surprise and they began to sell.  Despite learning after analysis that the downturn was mostly caused by fluctuation in aircraft orders, the slide gained momentum.  The Dow wound with its biggest loss of the year closing down 264 points and below the 17,000 level once again.