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Stocks have now crossed over to represent losses for the year. With the economy slowing and no new stimulus in sight, investors are growing fearful of a major downturn.

The combination between the Fed announcement, meant to help the economy, and the Moody's downgrade pulled financial stocks, especially the major banks, lower for the day. Bank of America and Morgan Stanley were among the biggest losers with MS hitting a new 52-week low.

Stocks fell over 2 percent today as investors worry that an indecisive EU and IMF will let Greece collapse, and Republicans are up in arms over the President's class warfare plan.