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Stocks' Latest Terrible Last Hour

November 19, 2008 RSS Feed Print

The Dow dropped below 8,000 today for the first time since March of 2003 with the most aggressive selling coming between 3 p.m. and the close.

We'll debate the reasons (Citigroup? Automakers? CMBS?) but it's becoming clear that stocks are still trading fearfully when it comes to whether or not the government will continue to offer additional support to prop up troubled parts of the economy. Basically, until bailouts are solidified one way or the other, trading is going to remain frenetic.

Another lesson from today's trading: Hopes for signs of a technical market bottom just aren't worth much when such systemic problems remain in the economy and corporate America (see the WSJ yesterday for more).

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acai plus of 4:50PM May 06, 2010

Stocks' Latest Terrible Last Hour

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