Market Cracks--"Jeff Gundlach: Europe Has Already Crashed, Recession Has Already Begun" (DIA; QQQ; SYY)

The major Indexes (indices?) are now down 7/10 percent.
From MarketBeat:

The country is already in a recession, according to bond manager Jeffrey Gundlach, who predicted “there’s going to be a big loss in Europe.”
…
“We’re in a recession right now,” Gundlach said, as he reviewed a hefty deck of slides with dreary data. Statistics on the polarization of wealth in the U.S., dim headlines about sentiment in locales abroad and the European bond market were among the reasons Gundlach cited for his dour forecasts....MORE

The German Bundestag votes tomorrow and one senior judge had said it is illegal to bind the country without a referendum.
Sept. 25 
Watch the Sept. 29 German Vote on the EFSF
Sept. 26 
Repost:Euro: Quick Recovery From Opening Gap Down Even As China Says Again It Won't Bail Out Europe (EUR/USD)
Sept. 27 
It's Not Over Until..."German turmoil over EU bail-outs as top judge calls for referendum"