Selling Rampage Sends S&P Back to 1997

Wall Street's bleeding escalated on Thursday, sending the S&P 500 to an 11-year low and crude oil prices plummeting below $50 a barrel.

Fueled by growing economic fears, plunging financials, and the specter of a collapse of the U.S. auto industry, the latest selloff marks Wall Street's steepest two-day percentage drop since October 1987. - foxbus