Stocks Plunge After Downgrade

Stock markets took a nosedive the first day of trading after S&P downgraded the US's credit rating from AAA to AA+.

Today stock market's had their biggest single day losses since the market crash days of 2008, leaving investors worried about days and weeks to come.  After opening the day down about 24 points, the S&P continued to sell off throughout the day, finishing the day down nearly 7%, wiping out all of the profits the market has made since the beginning of the year.

Is this the bottom?  Will the sell off continue?  As folks are watching stock prices tank they see the same affects on their 401k and retirement plans, only adding to the increased fear in the markets.  Only time will tell if we are going to get a market bounce or conitnue lower.  What do you think?