Stocks Slide Ahead of Earnings

By Kevin Spak,  Newser Staff
Posted Apr 6, 2009 8:57 AM CDT
Traders work on the floor at the New York Stock Exchange.   (AP Photo)
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(Newser) – Stocks turned south this morning, as a series of downgrades and bad news for the Sun/IBM deal spooked investors ahead of earnings season, the Wall Street Journal reports. The Dow dropped 92, the S&P 12. Financials sank after a veteran analyst downgraded 11 major US banks. The Nasdaq fell 33, after a downgrade from Cisco and a report that the Sun takeover deal was in jeopardy.