Wall Street suffered another downpour on Tuesday, the latest gash in a worsening contraction.  The broader DJIA dropped more than 500 points to 9,447, while the S&P 500 dropped to its lowest levels in five years.  The tech-heavy Nasdaq also slipped 108 points, or 5.8 percent, to land at 1,755.

In total, the Dow has lost more than 1,400 points over the past five trading days alone.  That is affecting music-related stocks like Apple (AAPL), which slipped below $90 to $89.16 on Tuesday, down 9.15 percent.  That is the lowest level for the stock since March of 2007.  Meanwhile, Warner Music Group (WMG) languished below $6 to $5.94, down 10 percent, and Sirius XM Radio slipped to 48-cents, down 3.92 percent, its lowest levels since March of 2003.

Those attempting to buy at the bottom are playing a tricky game, and earlier gambles have been punished.  Meanwhile, the bears are growling loudly, and dampening investor confidence in the process.  That includes Federal Reserve chairman Ben Bernanke, who pointed to worsening conditions and opened the door to rate cuts.  “In light of developments, the Fed will need to consider whether the current stance of policy remains appropriate,” Bernanke said.

Elsewhere, hard-charging market analyst Jim Cramer, host of CNBC’s “Mad Money,” urged investors to run for the exits.   “Whatever money you may need for the next five years, please take it out of the stock market right now, this week,” a visibly-shaken Cramer told Ann Curry on the Today Show.  The comments, delivered by the oft-bullish and rowdy analyst, undoubtedly spooked market confidence further.

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