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WEDNESDAY, NOVEMBER 25, 2009
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 MARKET OPEN 
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Stocks Saunter Downward

Mild drop as investors hold breath

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(Newser) – Stocks dipped at the open today, as investors digested downbeat corporate news while awaiting an auto bailout. The Dow fell as much as 145; the Nasdaq and S&P were off 1.3% and 1.4%, respectively. Auto shares retreated after yesterday’s gains, the Wall Street Journal reports, with General Motors and Ford dropping 5.5% and 7.5%, respectively, on news the government would likely demand shares for its help.

The tech sector took a hit, after Texas Instruments slashed its forecast and Sony announced a 5% cut in its workforce; TI shares were down 2.2% pre-market. FedEx also cut its forecast, and was met with a 9.5% pre-market decline.

Traders work on the floor of the New York Stock Exchange Monday, Dec. 8, 2008.
Traders work on the floor of the New York Stock Exchange Monday, Dec. 8, 2008.   (AP Photo/Richard Drew)
Trader Christopher Morie, confers with specialists on the floor of the New York Stock Exchange Monday, Dec. 8. 2008.
Trader Christopher Morie, confers with specialists on the floor of the New York Stock Exchange Monday, Dec. 8. 2008.   (AP Photo/Richard Drew)
Traders work on the floor of the New York Stock Exchange Monday, Dec. 8, 2008.
Traders work on the floor of the New York Stock Exchange Monday, Dec. 8, 2008.   (AP Photo/Richard Drew)
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