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US Stocks Getting Crushed Dow Off 300 Circuit Breakers Near

The stock market extended its sharp slide Thursday as investors already bleak view of the world economy worsened with another drop in the euro and disappointing U.S. employment news.

The Dow Jones industrial average fell more than 250 points in morning trading. Interest rates fell sharply in the Treasury market as investors once again sought the safety of U.S. government debt.

With Thursday's drop, the S&P 500 is down more than 10 percent from its 2010 trading high last month. Such a drop is considered by many analysts to be a "correction" in the market. Many analysts pay more attention to drops from closing highs, however, not trading highs.

The euro is falling again and continues to hover near a four-year low. It has become a key indicator for confidence in Europe's economy. The euro fell to $1.2329, a day after hitting $1.2146.

"There's a question out there now that potentially we could be talking about a collapse of the eurozone or countries breaking away from the euro," said Tim Quinlan, an economist at Wells Fargo & Co. As recently as four months ago, that wasn't even considered a possibility, Quinlan said.

Such a stark change in views has unnerved investors, and the euro is now largely driving stock trading. Major European indexes gave up their morning gains and are now sharply lower after the euro retreated.


Disclosure: no positions