Now Brace for Short-Sellers

Dow blows by Tuesday low

(NEWSER) - Stocks fell today, with the Dow passing the bear-market low it set Tuesday, and two giants of US banking and manufacturing trading at less than $2, MarketWatch reports. Mounting problems at Citigroup and General Motors drove their shares to $1.02, and $1.95, respectively. The Dow dropped 281.40 to close at 6,594.44. The Nasdaq lost 54.15, closing at 1,299.59, while the S&P 500 lost 30.32 to settle at 682.55. More»

Nationalization talk spurs financial sell-off

(NEWSER) - Stocks lost value again today as talk of nationalizing top US banks spurred investors to sell financials, MarketWatch reports. The Obama administration tried to tamp down the nationalization chatter, but without success. Meanwhile, General Electric and General Motors fell 6% and 16%, respectively. The Dow lost 100.28 to close at 7,365.67. The Nasdaq closed down 1.59 at 1,441.23, and the S&P 500 lost 8.89 to settle at 770.05. More»

(NEWSER) - Stocks rallied late in the session today, buoyed by rounds of bargain hunting following yesterday’s deep sell-off, the Wall Street Journal reports. GE rose 14%, despite lowering its forecast, on news that it will still pay a $1.24-per-share dividend next year. The Dow rose 270 points to close at 8,419. The Nasdaq gained 51.73 points, closing at 1,450, and the S&P 500 rose 32.60 points to settle at 849. More»

Dow falls below 9,000 for first time since 2003

(NEWSER) - Stocks plunged in the last hours of trading today as a number of government moves did little to shore up investors' confidence, MarketWatch reports. The Dow’s losses accelerated sharply after it dropped below the psychological threshold of 9,000 points. It closed down 678.91 at 8,579.19; the Nasdaq lost 95.21, closing at 1,645.12, and the S&P 500 fell 75.02 to 909.92. More»

Temporary ban on short-selling causes fundamental shifts

(NEWSER) - Stocks roared back to life yesterday on the government’s actions to stabilize the markets, but many traders expressed uncertainty about the new rules of the game, the New York Times reports. The temporary ban on short selling and the new requirement to disclose such trades have wreaked havoc with core mechanics of the market, causing computer glitches and erroneous trading prices in some instances. More»