Stock Market Plunges Below 8,000 in the first few minutes of trading

New York, NY, USA U.S. trading is following huge declines overseas. Investors around the world are panicking because credit markets remain frozen and pose a threat to the global economy.

The Dow is off 663 at the 7,915 level. The Standard & Poor's 500 index is down more than 7 percent, and the Nasdaq composite is down more than 5 percent.

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