DOW 8,200.14 -248.42 (-2.94%)
NASDAQ 1,489.64 -56.82 (-3.67%)
S&P 500 842.62 -29.17 (-3.35%)
Market avoided collapse on terrible news: worst retail sales ever, continuing layoffs, banks needing more gov't bailouts. While the indices were down the first ninety minutes, the indices stabilized and volume did not increase.
SPX and indices attempted a recovery in the afternoon and then rolled over to close near lows of day. This is fast price destruction with lighter volume which can set up a quick turn up.
Commercial real estate is setting up for a cliff-dive due to renters leaving, falling property values, and more stringent lending.
CNSL 11.19 -.78
GNCMA 6.56 -1.13
AEM 45.05 -2.58
HIG 13.79 -1.65
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