According to The Wall Street Journal, Bear Stearns (BSC), already forced to shut two hedge funds that bet heavily on the risky subprime mortgage market, is now facing big losses in a third fund that has roughly $900 million in mortgage investments.
Dylan Ratiagn asks the guys if the news will this ripple through the market?
Guy Adami says traders will sell first and ask questions later.
Eric Bolling also expects to see weakness at the opening bell as a result.
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Trader disclosure: On July 31st 2007, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Macke Owns (ATVI), Najarian Owns (GS); Bolling Owns (DIS), (T); Bolling Is Short S&P Futures; Bolling Is Short Nasdaq Futures: CNBC Is A Service Of NBC Universal And Dow Jones