Dow drops more than 400 points

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>>> and now we turn to wall street and that hammering we mentioned today on the stock market . this week started out so well and today it all went south in a hurry. cnbc's maria bartiromo at the nyse, what happened today?

>> no august slowdown here on wall street . sharp selloff. there's no -- we should see the economy head into recession yet again, we had negative economic data out today on jobs, joblessness continues to persist and we had negative data today on manufacturing, on top of that the -- there are new worries that the european banks will have to raise capital. all together, it created massive selling, one issue for this market, no long-term commitments, brian, just a week ago, we were talking about a big rally on wall street , people are looking at this market as a trader rather than an investment for the long-term.

Dow drops more than 400 points

The Dow Jones industrial average fell 419 points, a return to the wild swings that gripped the stock market last week. CNBC's Maria Bartiromo reports.

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