U.S. stocks are tumbling deep into negative territory, with every major sector in the red. The Dow is down 222 points, or 1.3%, in its worst rout since April. The broader S&P 500 is down 1.6%. Meanwhile, the VIX, a measure of volatility, is surging almost 20%.

Yahoo! Finance says it is due, in part, to fears of European DEFLATION

What say you Yuropean MFs 

I think it is more likely Argentina defaulting again, the unemployment news, Putin and the Middle East.  We're going to do a little buying tomorrow.

not in the uk, cost of living including housing is still rising and wages are still stagnant, in the main.

There are rumours of banking issues (blame the portugese, and perhaps Lloyds) but I reckon the stock price probably is another thing to blame Putin for...

I think you are correct Littleman

The pundits came to that conclusion late in the day

AND

http://tinyurl.com/o6vzd95