Yesterday Brought to You By the Irrational Herd

What a day it was at the New York Stock Exchange. (By Stephen Chernin -- Getty Images)

Yesterday at 3 p.m., these were the top headlines running on Bloomberg's news service:

· Stocks in U.S. Drop Most Since 2003.

· Treasury Yields Decline to Lowest Since December.

· Orders for Durable Goods in U.S. Tumble 7.8 Percent.

· Freddie Mac Will Tighten Standards on Its Purchases of Subprime Mortgages.

· Yen Advances as Investors Unwind Bets on a Drop in the Japanese Currency.