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Detailed text transcripts for TV channel - FOXNEWS - 20110804:20:02:00

correction mode for the year. this is the worst day for the market in over a year, the dow and s&p and has nasdaq. now only do we have traders throwing in the towel saying i cannot fight this, a lot of electronic trades toward the end of the session. full corrections today, 10 percent for the highs for the dow, and 11,529 would be a gulf correction and we had s&p at 12 in 027. and also, the commodities market because usually when you have the stock market equities fall through some look for the safe haven which is gold. that did not happen. we had a fresh high for gold in the morning and in the middle of the session traders jumped out of the last thing you would thing they would jump out, gold.

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