Europe’s financial instability seems to have infected Wall Street. From WSJ Online:

The Dow Jones Industrial Average fell 225.06 points, or 2%, to 10926.77, its worst daily decline in both point and percentage terms since Feb. 4. The decline also represented the Dow’s fourth straight triple-digit point move, underscoring that volatility is returning after a long stretch of trading that had been defined by modest daily moves and light volume.

This will get worse before it gets better.