The Dow is currently down 175 points and is dangerously close to breaking down below 15,000. The S&P 500 is also close to 1,600. Psychologically, breaking through these round number levels will hurt markets. Japan was down another 3.8% overnight, bringing the total drop from the May 22nd all-time high to 17% or about 2,700 points. U.S. investors should take note of this dramatic fall and plan accordingly.