Updated from 1:50 p.m. EST
I Am Not a Pessimist(At 5:56 p.m. EST) A 39% plunge in shares of Citigroup ( C - Get Report), a horrid reading on the nation's GDP and GE ( GE - Get Report) cutting its dividend to one-third of its prior level. This is what the market had to contend with Friday, and all things considered I think it held up fairly well. Of course, after you read some of what follows I won't hold it against you if you disagree. The Dow Jones Industrial Average did close with a loss, ending down 119.15 points, or 1.7%, at 7062.93, and even if it could have been uglier, it wouldn't be exactly fair to celebrate, either. That was, after all, the lowest finish since May 1, 1997.