I'm surprised it isn't raining day traders out there. I remember in the months after 9/11 when the stock market was down around this figure, I thought this was a more natural place for the market to be. Well, it managed to do it in a couple weeks rather than a couple months. Any lower and I might actually start to worry.
In other words, I think the collapse of large investment banks has led to the collapse of an investment bubble that had commodity prices a bit higher than they should have been under normal market conditions.
I have to say, however, that a six hundred point drop in the Dow in one day makes even me nervous.