snow. paula. it was -- another plunge. this is how it ended. one point, it was down 500 points. john schmitt's port folio manager, joins us with a look what's driving the markets down. . >> and it should be a good thing. and you should buy more gasoline. it's cheaper. >> and oil falling about a year ago. it's really a result of slowing, concern of a slowing economy. started as an oversupply situation. we're producing of the country, massive amounts oil. and we started cutting back. saudi arabia is ready to pile on. and since then, it's been more after demand concern in the last few weeks. that's why the markets have been more on the edge. particularly china. starting to arrive. >> people at helm, goes to the gas pump. how low is gas compared to where it's been? >> it's very, very cheap. gallon of oil is cheaper than milk. >> and based on inflation >> inflation, we have not seen prices like this in decades. >> and we know it's moving the market down. that's the negative, low prices. what should people do? s&p 500 at one point is so low, it's # 1 percent down for the year. that's huge people's 4