http://finance.yahoo.com/q?s=^DJI
Was it Moody's downgrading Spain's credit rating (possibly a big deal), Saudi Arabia firing on protesters (definitely a big deal), Libya (possibly a huge deal depending on how it ultimately unfolds) or just the general malaise that surrounds anything connected with the global economy? It's hard to say, but the DJIA dropped below 12,000 today loosing a couple hundred points (about 228 was the final tally), and NASDAQ and S&P followed suit. I no longer consider the Stock Market to be much of an indicator about anything, but it is certainly worth keeping an eye on for the insight it gives into what the major money holders are thinking about the world economy.
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