Update 4: Here’s what you need to know about the state of the South Korean economy.
Update 3: The President has convened an emergency security meeting.
Update 2: According to YONHAP news agency, 104 sailors were on board and only 58 have been accounted for.
Update: And now WSJ says a Korean ship went down near the border, probably due to a torpedo.
Original post: Check out gold! rumour going around has to do with hostilities between the Koreas.
This comes the same day comments from North Korean media about Kim Jon Il wanting to drop a nuke on the west, so you can see why folks are jittery.