Wall Street plummets below 10,000 mark

Wall Street plummeted sharply early Monday, with the Dow Jones industrials falling below the 10,000 mark for the first time in nearly four years.

Nervous investors are apparently nonplussed by the government-approved $700 billion bailout package that's designed to rid banks of toxic, mortgage-related debt and jumpstart lending again.

It was hoped the bill would loosen credit markets in the near term, but it remains to be seen when that will begin to happen.

People are scared - scared that this financial meltdown has a lot further to go before things finally hit bottom. And when fear figures into this heavily into the mix, businesses are relucant to borrow,  investors sell off and the market tanks.

Here's what Nouriel Roubini, otherwise known as Dr. Doom, had to say last week:

This is indeed a cardiac arrest for the shadow and non-shadow banking system and for the system of financing of the corporate sector. The shutdown of financing for the corporate system is particularly scary: solvent but illiquid corporations that cannot roll over their maturing debt may now face massive defaults due to this illiquidity. And if the financing of the corporate sectors shuts down and remains shut down the risk of an economic collapse similar to the Great Depression becomes highly likely.

Will today's market close be as bad as last Monday? Stay tuned.