Dow Jones Has Lost 9.2% Since Jan. 1

I read this article from the New York Times today that stated that the Dow Jones had lost 9.2% of it's value since the first of January. That's quite a hit and I'm sure that a lot of investors are screaming. On the other hand I'm just wishing that my debts were paid off so I could be buying stocks at these prices. I've just started learning about the market, but this seems to really be the time to scoop up some bargains.

So are any of you taking advantage of this down turn? If not, can you tell me why?