Dow plunges 370

Stocks had one of their worst days in some time. Dow dropped 370, decliners over advancers 4-1 & NAZ fell 73. It's not too often we see 3% declines in the averages. The service sector suffered a major contraction in Jan, the first such in 5 years raising ugly fears about recession. This report was viewed as a collapse of the service sector. Not well noticed was the severe winter weather in China cutting into their economy. The US imports about $1B every day from China. Today's performance has the making of one tough week!