Stocks crashed through a psychological barrier on Monday, falling below 7000 to close down 4.24% for the day, at 6763 — the first market close under 7000 since May 1997. The broader S&P 500 was down sharply as well, falling 4.66% to finish at 700.82. The market opened on a sharp down note after absorbing a weekend of anxiety over AIG, the black hole of an insurance company that is swallowing another $30 billion of government assistance with no assurance that it won’t need more.
