Stocks slumped on worries that the White House's bank plan and China's lending curbs will mean a broader cutback in lending. Better-than-expected earnings from Google and Advanced Micro Devices were met with selling pressure. Volatility surged for the second straight session. This is an emotional reaction to the news. By next week, as people have processed it more, we'll see stocks recovering.
Saturday, January 23, 2010
Dropped on profit-taking
Stocks slumped on worries that the White House's bank plan and China's lending curbs will mean a broader cutback in lending. Better-than-expected earnings from Google and Advanced Micro Devices were met with selling pressure. Volatility surged for the second straight session. This is an emotional reaction to the news. By next week, as people have processed it more, we'll see stocks recovering.
