Stocks Walloped on Miserable Monday, but Gold Provides Refuge

Breakout reports:

The stock market once again proved it can be an incredibly unforgiving and swiftly punishing place, as a two-week long downturn was given new fuel by Standard & Poor's decision last Friday to downgrade the U.S. credit rating.
Gold rose Monday, as did Treasury prices, but the equity market was a horror show across the board. The Dow Jones Industrial Average slumped 635 points, or 5.6%, to put the index below 11,000 at 10,810. Since its recent high of 12,810.54, right at 2,000 points ago on April 29, the Dow has surrendered more than 15%.