Skip to: Content
Skip to: Site Navigation
Skip to: Search

July 25, 2008 10:06:09 PM CDT

Learn about Newser Points »

« Back to the grid | Next story »

Bear Bailout Invites the Bears

Posted Mar 14, 08 3:40 PM CDT in Business 

(Newser) – News of the Bear Stearns bailout triggered a sell-off today as investors were reminded that the true depth and breadth of current credit problems remains uncertain, the Wall Street Journal reports. Bear Stearns stock closed at 30, down a breathtaking 47.4% on the day. The Dow fell 194.65 to 11,951.09, the Nasdaq 51.12 to  2,212.49, and the S&P 500 27.34 to 1,288.14.

Citigroup, Bank of America, American Express, and AIG were among the financials dragged down in Bear Stearns' wake. The fact that even dramatic moves by the Fed haven't quelled the uncertainty makes it that much worse, analysts say. "There's a series of policy mistakes or failures that have led to this," one strategist said. "There's a massive amount of liquidity far in excess of what there's demand for."

Sources: Wall Street Journal, Bloomberg, MarketWatch

0 comments | Print E-mail | Digg Seed this on Newsvine Add this link to Del.icio.us StumbleUpon

Related Newser Stories

  • Tech Triggers Big Drop

    Jul 9, 08 3:37 PM CDT
    Tech Triggers Big Drop Stocks fell today as investors saw weakness across the economy, particularly in tech bellwethers Cisco and Intel, MarketWatch reports. Oil also rebounded from a two-day fall, trading up 65 cents to $136.69 a barrel. The Dow fell 236.77, closing at 11,147.44. The Nasdaq shed 59.55 to close at 2,234.89, and the S&P 500 lost 29.01, settling at 1,244.69. More »

  • Citi's Blahs Make Little Dent

    Jun 19, 08 3:38 PM CDT
    Citi's Blahs Make Little Dent Stocks posted moderate gains today as oil futures dropped below $135 per barrel on news of China's move to raise prices by trimming subsidies, MarketWatch reports. With traders little moved by warnings of further writedowns ahead for Citigroup, the Dow closed up 34.03, at 12,063.09. The Nasdaq gained 32.36, closing at 2,462.07, and the S&P 500 rose 5.02 to settle at 1,342.83. More »

  • Bad News Pummels Stocks

    May 9, 08 3:28 PM CDT
    Bad News Pummels Stocks Stocks performed poorly today, battered by another new oil high and bad news from AIG and Citigroup, Bloomberg reports. The Dow lost 120.90 to end at 12,745.88, with a weekly loss of 2.4%. The S&P 500 shed 9.50 to 1,388.28, while the Nasdaq dropped 5.72 to settle at 2,445.52. More »

  • Financials, $108 Oil Sink Stocks

    Mar 10, 08 3:49 PM CDT
    Financials, $108 Oil Sink Stocks US stocks fell today for a third consecutive day as fears of recession continued to spread, MarketWatch reports. With Ambac’s revival uncertain and Countrywide facing a possible securities fraud probe, shares of both financial giants plummeted, pressuring the overall market downward. The Dow lost 153.54 to close at 11,740.15, the Nasdaq dropped 43.15 to 2,169.34, and the S&P 500 fell 20.00 to 1,273.37. More »

  • Stocks Up on Microsoft Earnings

    Oct 26, 07 3:42 PM CDT
    Optimism prevailed on Wall Street today as Microsoft clobbered estimates and Countrywide promised the worst was behind it. The tech-heavy Nasdaq led the way, gaining 53.33 to finish at 2,804.19. The S&P 500 rose 20.87 to 1,535.28; 65% of its components have beaten estimates so far. The Dow finished at 13,806.70, up 134.78 to wrap up a winning week. More »

The offices of global investment bank, securities trading and brokerage firm Bear, Stearns & Co. on Madison Ave. December 20, 2007 in New York City.   ((Mario Tama/Getty Images))
Marco Picone, right, and Michael McDonnell, both of Lehman Brothers MarketMakers consult on the floor of the New York Stock Exchange, Friday, March 14, 2008.   (AP Photo/Henny Ray Abrams)
Holiday lights from a Christmas tree highlight the Bear Stearns Company sign at its headquarters in New York, in this Dec. 15, 2005 file photo.   (AP Photo/Bebeto Matthews, file)
« Prev« Prev | Next »Next » Slideshow

Threads (1 of 3)

Tags

Federal Reserve  • S&P 500  • Nasdaq  • Dow Jones Industrial Average  • Bear Stearns  • Citigroup  • Bank of America  • AIG  • Countrywide Financial  • American Express  • Federal Reserve Bank of New York


Loading...

Loading...

Today's Most Popular


Other Business Stories

What is Newser?

2008 Codie Finalist

Newser gives you more news in less time. We search for the best and most important stories all over the web, read them for you, and deliver concise and sharp summaries—along with links to the full text. Newser provides a way to stay on top of an ever-expanding horizon of news and opinion—politics, sports, business, trends, technology, personalities, crimes, and controversies. Newser keeps you not just better informed, but, with our signature graphic interface and smart condensed format, more enjoyably informed.

Learn more »