I think Fed steps in with an emergency cut. Not that it'll do anything but delay this a few days, but they'll have to try.
http://www.pdfmenot.com/view/http:/...ty-index/files/EquityIndexPriceLimitGuide.pdf -60 points is overnight limit down. Assuming price does not move up, trading re-starts at start of regular trading hours (not sure what these are, but I am guessing 8.30am Chicago / 9.30am ET) http://www.cmegroup.com/trading_hours/index.html?show=Equity Indexes
Yahoo.com reports European stock market indices are down about 6 to 8 % now. Asian stock market indices down about 8 to 10 %.