2:00 pm : The stock market’s bounce off of its session low has lost momentum. In turn, the Dow and S&P 500 continue to trade with losses well past 2%, while the Nasdaq is still down more than 3%.
Losses are even sharper among small-cap stocks. As such, the Russell 2000 is down 4.2%. Within the Small-Cap Index, fewer than 3% of the components have managed to put together a gain. New York & Co. (NWY 3.98, -1.32) is atop the list of declining issues; the company posted a quarterly loss that was in-line with Wall Street’s consensus, but the stock was subsequently hit by an analyst downgrade. Shares of NWY have lost roughly one quarter of their market cap in this session alone. DJ30 -278.11 NASDAQ -76.28 SP500 -32.73 NASDAQ Adv/Vol/Dec 180/2.05 bln/2533 NYSE Adv/Vol/Dec 126/1.14 bln/2997
http://finance.yahoo.com/marketupdate/overview?u
Ping to 40
Tomorrow is options and futures expiry day, so some of the volatility can be attributed to that (using the Euro / PIIGS panic), as well as some hedge funds deleveraging and margin calls.
Same ole, same ole...