NEW YORK, NY November 20, 2008 —Stocks dropped through the floor today as Democrats chose to delay action on bailing out the auto industry. The Dow sunk even further below 8,000, down 445 point to 7552, a 5.5 percent drop. The Nasdaq also fell more than 5 percent down 70 points to 1316. The S & P 500 was the biggest loser today down nearly seven percent, a loss of 54 points to 752. James Kwak, one of the authors of the blog "Baseline Scenario," recaps the financial news of the day.