Stock Market Takes a Plunge

By Scott Sarvay

August 4, 2011 Updated Aug 4, 2011 at 5:18 PM EDT

FORT WAYNE, Ind. (Indiana’s NewsCenter) - Your retirement fund, your child's college fund, and your investments were hit hard Thursday.

The DOW finished the day down a whopping 512 points.

So what is behind the plunge?

Financial Planner Todd Larson says, “It was not the problem with the debt ceiling, Congress really didn't solve all the problems we have, it is the economy seems to indicate we are headed towards a recession at this point. I think people are skittish after the last decade of the markets, and now that the economy is softening up a little bit, the markets are dropping.”

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