The bears say the market is due -- overdue really -- for a correction of 20 percent or more. The bulls counter by saying the economy is picking up steam and corporate profits remain strong. Investors are caught in the middle.
The Dow Jones industrial average (^DJI) tumbled 267 points Thursday, the Nasdaq composite (^IXIC) plunged 129 and the Standard & Poor's 500 index (^GPSC) dropped 39 points.
It was the Nasdaq's biggest point loss in nearly 2½ years. Since hitting a 14-year high on March 5, the Nasdaq has lost 7 percent. The stocks that had been trendy -- mainly biotech, Internet and smaller technology companies -- have been getting hammered.
Meanwhile, federal regulators are warning the nation's banks that their internal security networks could be exposed to hackers. As you've probably heard by now, we are all supposed to change our passwords right away.
And the Obama administration is encouraging businesses to cooperate with each other and share information about hackers -- without running afoul of antitrust laws. Officials say the increasing threat of cyberattacks requires companies to work together to strengthen their information-technology defenses.
Finally, online gambling in New Jersey has been a flop so far. The state had predicted it would generate $1 billion in revenue by July, but through the end of February, gamblers in the state had bet just $27 million since the sites were launched last November.
-Produced by Drew Trachtenberg.