Quick Overview

• Powerful typhoon Muifa likely to land in east China over the weekend creating -- damage to corn and soy?

• The Fox, Tea, Republican generated sell-off in Wall Street accelerated on Thursday, with the blue-chip Dow plunging more than 500 points, as investors rushed out of equities.
• IT's Dow Theory prediction is now bearish

• The number of U.S. people initially applying for unemployment aid last week declined to 400,000 in the week ending July 30, a decrease of 1,000 from the previous week's. THE BIG Employment NUMBER IN THE MORNING.