The House of Representatives defeated the $700 billion bailout for the credit market by a narrow margin.
Stocks immediately dipped — the Dow by 700 points, or about 7% — before recovering about 1/5 of the losses.
The S&P 500 dropped roughly 6.8% with 45 minutes left of trading.
Having liquidity in your account at this time is essential, as the buying opportunities presented over the coming weeks may be unprecedented.