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Largest one-day points drop ever

From NBC's Domenico Montanaro
The Dow finished down 777.68 points, or almost 7%. It is the largest one-day drop in points in the history of Wall St. In 1987, on Black Monday, the market dropped 20%.

Video: CNBC's Michelle Caruso-Cabrera discusses the DOW's freefall following the collapse of the Wall Street bailout and what effects it will have on world markets. 'There's no credit available.... It stops business in its tracks,' says Cabrera.