UPDATE: As of 11:11AM, the markets have come back a bit. Down down -85.
EARLIER: It’s starting over.
The NASDAQ is what’s really getting crushed, down over 3%.
The Dow is moving around, but down over 211.
Euro stock markets (and the currency) are getting really hammered. The DAX is off over 3%.
The talk about European bank liquidity is intense — and bear in mind that this comes after an emergency G7 call designed to calm fears.
Pressure is definitely growing on ECB chief Jean-Claude Trichet to pull out the nuclear option — direct buying of Euro sovereign debt.