Another ugly day in the markets. Dow was down 307, decliners over advancers 6-1 & NAZ slipped 47. That qualifies as ugly. Even worse, this looks like more blood letting without a conclusion. Here's the new highs vs new lows on NYSE:
New Highs 26
New Lows 479
The sellers are in charge after a brutal market decline in recent weeks. Dow is down 2000 from it's high registered only a few months ago.
After the close, Washington Mutual reported it's loss. It looks to be wore than anticipated, but the stock was up 54¢ after hours on the news .
Earnings reports will keep coming. Gloom looks it will be the dominant theme, especially for banks & other financials. Prepare for a continued bumpy ride in the markets. It's a good bet, Asian markets will take a pounding when they open in a few hours.
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