go down, another 107 points. this is on top of the big selloff from yesterday. if you missed it, the dow fell 266 points, the third biggest selloff of the year. yesterday the nasdaq fell 130 points. it hasn t fallen that much in three years. these are huge moves, actually causing some traders to be a little disturbed by the movement. why is this happening. we re right in the middle of first quarter earning season. it got started this week. it s not impressing at this point. two big banks reporting today, one beat expectations, today. jpmorgan down more than 4.5%. the overall market, a sea of red continuing today. take a look at the dow at the level of 16,072. i bet you can remember when we were talking about the record highs. we re far away from that. we could see the dow dip below the 16,000 level maybe today. carol? maybe. i always hear we re in for a correction and investors keep
case in point, china. a weak manufacturing report came out of china, and that s worrying the u.s., because china is one of our biggest trading partners. if china is not doing well, the u.s., the thinking is, wouldn t do well. and then you look at the u.s., it s not doing too hot either. we re in the thick of fourth quarter earning seasons, and it s pretty underwhelming for investors. big company names like verizon, johnson & johnson, ibm and citigroup are disappointing wall street, because the thinking is, if corporate america doesn t do well, it won t hire more people. the companies won t spend money. the companies won t grow. and that won t help the economy. so what do you get when you roll that together? you get a lot of red on the screen, the dow down 185 points. it was down more than 200 points. we did see the dow dip below that 16,000 level. right now only four components of the dow 30 are higher. right now those higher prices are coming from microsoft, procter & gamble, merck an