Dow Sinks 150, Nasdaq Down 60
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The Dow is down 150 points, the Nasdaq is down 60 and the S&P 500 is down 22 points.
Merrill Lynch (NYSE: MER) is leading the financials lowers (-3%). Merrill Lynch is off nearly 6% mid-day following its earnings report, which included a $7.9 billion write-down. S&P lowered its credit rating on Merrill with a negative outlook.
Tech stocks on the Nasdaq are weak as Amazon.com (Nasdaq: AMZN) (-17%) and Broadcom Corp. (Nasdaq: BRCM) (-18%) see post-earnings sell-offs. Profit-takers are also being seen in Google (Nasdaq: GOOG) -2.3%, Apple Inc. (Nasdaq: AAPL) -3%, Baidu.com, Inc. (Nasdaq: BIDU) -5.8% and Research In Motion Ltd. (Nasdaq: RIMM) -4%, among others.
Merrill Lynch (NYSE: MER) is leading the financials lowers (-3%). Merrill Lynch is off nearly 6% mid-day following its earnings report, which included a $7.9 billion write-down. S&P lowered its credit rating on Merrill with a negative outlook.
Tech stocks on the Nasdaq are weak as Amazon.com (Nasdaq: AMZN) (-17%) and Broadcom Corp. (Nasdaq: BRCM) (-18%) see post-earnings sell-offs. Profit-takers are also being seen in Google (Nasdaq: GOOG) -2.3%, Apple Inc. (Nasdaq: AAPL) -3%, Baidu.com, Inc. (Nasdaq: BIDU) -5.8% and Research In Motion Ltd. (Nasdaq: RIMM) -4%, among others.
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