Crisis Legal NewsClick here to add this website to your favorites
Crisis News Search >>>

Stocks Fall on Financial Sector Worries

Financial Law     updated  2009/04/06 09:42

Renewed concern about the health of the U.S. financial sector put markets in a sour mood on Monday with U.S. stocks down nearly 2%.

The Dow Jones industrial average was most recently down 114 points to 7903, the S&P 500 was down 15 points to 827 and the Nasdaq was down 35 points to 1587. In Canada, the S&P/TSX composite index was down 130 points to 8935.

"As has tended to be the case with rallies over the past year, when the market has moved a fair amount higher, doubt starts to creep in," said David Jones, chief market strategist at IG Index. "There is always the worry that this is just another bear market rally - and no one wants to be left holding the baby when the market turns."

Market watchers say financial worries were generated by an analyst report from Calyon's Mike Mayo. The former Deutsche Bank analyst recently moved to Calyon and released his initial ratings on 11 U.S. banks. All of them were started with sell or underperform ratings and he said that, on average, banks have only marked down loans to 98 cents on the dollar.

© Crisis Legal News - All Rights Reserved.

The content contained on the web site has been prepared by Legal Crisis News
as a service to the internet community and is not intended to constitute legal advice or
a substitute for consultation with a licensed legal professional in a particular case or circumstance.
 Law Firm Web Design Information
Law Promo can construct your law firm a brand new responsive website, or help you redesign your existing site to secure your place in the mobile world. We believe our work speaks for itself by showcasing quality design while reflecting our extensive experience in the online legal marketing industry. Law Firm Website Designs by Law Promo.| Law Firm Logo Design
   Latest Crisis Legal News
   Sponsored Links
Chicago Business Law Attorney
Corporate Litigation Attorneys
Fort Lauderdale Criminal Defense Lawyer
Miami Sex Crimes Lawyer
Fort Washington Employment Law Firm
Attorney Marc E. Weinstein
Santa Ana Workers' Compensation Lawyers
Car Accidents Attorneys
New Rochelle Personal Injury
Eugene Criminal Defense
Law Office of Max J Mizejewski
Family Law. Call 541.505.9872
CPA Accounting Web Design
Finanace Office Web Designs
Lorain Elyria Divorce Lawyer
New York Adoption Lawyers
New York Foster Care Lawyers
Adoption Pre-Certification
Cobb County Criminal Attorney
Georgia Criminal Defense Lawyer
San Francisco Trademark Lawyer
San Jose Trademark Lawyer
Eugene Chapter 7 Bankruptcy Lawyer
Oregon Chapter 7 Bankruptcy Lawyer