DOW GIVES UP 129-POINT RALLY
The headline: Dow Gives Up 129-Point Rally to Close Lower For the Day. Did More Bear Stearns Subprime Hedge Fund Concerns Cause Monster Reversal?
Brokers were indeed the spoiler today. And this is concerning, Pete Najarian says. Today’s reversal further proves how volatile this market is, and perhaps how the Bear Stearns (BSC) “fiasco” is bigger than it was made out to be. When it was rumored today that Goldman Sachs (GS) could have some similar problems, Eric Bolling said he senses some nervousness. If Goldman gets hit with the subprime mess, it “could be a problem,” he says.