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The markets sagged Thursday from signs of further economic deterioriation and opposition in the Senate for a bailout for U.S. automakers.

The Dow Jones Industrial Average plunged 196.33, or 2.2%, to 8565.09, while the S&P 500 fell 25.65, of 2.9%, to 873.59. The Nasdaq dropped 57.60, or 3.7%, to 1507.88.

Dylan Ratigan, host of CNBC's "Fast Money" TV show, said the markets fell from pressure on the financial stocks, rollover of commodity names and clobbering of REITs.

Pete Najarian said it all starts with the jobless number which is getting close to 600,000. At the same time, he said the situation is not as dire as it appears. He said the VIX volality index is "flat" and the action on the commodity stocks amounted to a pullback after some hefty gains.

Karen Finerman agreed, noting REITs have had a "big, big run." The irony is things have not gotten that much better for REITs to go up so high, she said.

Jeff Macke said it was "too late in the game to short" the retailers.

Ratigan observed that the shares of General Motors(GM Quote - Cramer on GM - Stock Picks) and Ford(F Quote - Cramer on F - Stock Picks) were down 10% today. Guy Adami said he sees GM going to zero and Ford making it through in terms of the equity. Najarian said he wouldn't touch either.

http://www.thestreet.com/story/10452781/1/fast-money-recap-the-markets-nagging-problems.html?cm_ven=GOOGLEN