After a slight bump on monday DOW drops another 146 points

Following a brief timeout from a week of declines, the DOW continued it's spiral closing down 146 points.

The AP reports that American Home Mortgage's inability to borrow may force them into bankruptcy reminding the market's that corrections in the inflated mortgage sector have a long way to go.

Mish has a write up of AHM and the markets HERE which concludes:

"The party is over but a massive hangover is just starting."