The markets needed a bad day to convince congress to pass the bill. That's what we're seeing today. Markets really needed a bad day to say, "See Congress, we told you, now go pass the bill." Otherwise, they would say it's not needed. Tomorrow bill passes markets get big sympathy rally.
The bill is a dud and will do nothing and the market knows it. The only hope of the bail out was its original idea as to 'shock & awe' the markets like a defibrillator by doing it overnight. But due the delay through the government all the shock and awe has worn off and the bill has ZERO impact. It has become a farce and when passed it will do nothing but add on $700+ billion to the debt.