Dow falls below 8,000

Wall Street hit levels not seen since 2003 today, with the Dow Jones industrial average plunging below the 8,000 mark as the fate of Detroit's Big Three carmakers amid a slumping economy disheartened investors.

A cascade of selling occurred in the final minutes of the session as investors yanked money out of the market. For many, the real fear is that the recession might be even more protracted if Capitol Hill is unable to bail out the troubled auto industry.