After getting hammered early on, stocks stayed low today and couldn’t mount any meaningful recovery. The lack of a late-day rally was particularly remarkable, seeing as that kind of action has characterised the market for the past several weekends. No Goldman Sachs “buy programs” could save the bull today.
All of the major indices were off about 2.2%, with the Dow down 187.
Among the losers today: Financials, which were down across the board, commodities (down on dollar strength and recession concerns) and healthcare companies, as investors freak out about Obama’s new scheme to reform the industry.