Paul Krugman tells the story, but here are the bloody facts:

At the close, the Standard & Poor’s 500-stock index was down 60.27 points, or 4.78 percent, to 1,200.07. The Dow Jones industrial average was off 512.76 points, or 4.31 percent, to 11,383.68, and the Nasdaq was down 136.68, or 5.08 percent, to 2,556.39.

It was the biggest percentage drop since February 2009.

Aren’t you glad Pres. Obama and Congress avoided default?

Mr. Krugman might have a point. Maybe someone should do something?