What will they call this one? The Tuesday Tank? The February Fall? Greyish Tuesday?

Depending on who you were reading, the media's reaction to today's 500 point market plunge ranged from mildly alarmed to downright blase.

Check out the restrained vocabulary:

AOL Money and Finance says that stocks fell "Sharply."

The Wall Street Journal calls the drop "Dramatic."

Market Watch uses the word "Jitters" to describe what happened to China's Shanghai exchange this morning. Jitters?

Bloomberg said stocks "stumbled."

Not surprisingly, the Drudge Report has a blinking siren and the much more satisfying word "Plunges" in there, writ large in bright red letters. True, one doesn't normally check in with Drudge for a financial story, but if there's going to be a global meltdown, he's the go-to guy.

Google Finance has a Forbes story and some others, but those along with routine business news.

As of just after the market close Tuesday, the financial press seems to be taking this rather large drop (including a nearly instantaneous 200 point drop at 3 p.m. Eastern). It's early yet. Give the media a day or so to digest what happened. Editors need time to assign their What Went Wrong roundups.