US stock plunge makes worst june since 1930

from cnn/money: U.S. stocks fell sharply Thursday with the blue-chip index enduring its worst June so far since 1930, and plunging to its lowest finish since Sept. 11, 2006, after getting slammed hard as crude soared to new highs and Goldman Sachs disparaged U.S. brokers and advised selling General Motors Corp.

"We're going to move in the opposite direction of oil, and General Motors is going to go out of business, at least according to Goldman Sachs," said Art Hogan, chief market strategist at Jefferies & Co...

"The real problem is even though [the] Fed attempted to be more hawkish, it was not supportive enough of the dollar," Hogan said...

"One thing is for certain, if crude continues to rally, stocks are dead," said Dale Doelling, chief market technician at Trends In Commodities.

"If stocks have another day like this tomorrow, then the fallout next week could include government intervention in the markets," said Doelling.