what happened?, page-2

Market shakey heading into the US opening tonight after the Bank stocks got a hammering last night
"Bank stocks took a beating Monday after reports of a Wall Street insider trading probe, holding stocks back despite news of Ireland's bailout. ...there you go that will explain the stocks heading into the red....PEN fundamentally is fine but if the global markets get a hammering nothing is safe short term....hey dont worry about it just top up...lol
MMM
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The declines were broad-based, with 22 of 30 Dow components ending in the red. Bank of America (BAC, Fortune 500) was the Dow's biggest loser, dropping 3.1%. Other bank shares -- including Citigroup (C, Fortune 500), JPMorgan (JPM, Fortune 500) and Wells Fargo (WFC, Fortune 500) -- also ended sharply lower.

Goldman Sachs (GS, Fortune 500) was the S&P 500's laggard, with shares tumbling 3.4% following a weekend report that investigators are looking at possible insider trading allegations tied to the firm's dealings in transactions including a health-care merger.

Separately, reports said federal investigators raided the offices of several hedge funds Monday as part of a wide insider-trading probe.

Trading could be choppy this week, with many market participants taking time off ahead of the Thanksgiving holiday. Trading volume was on the light side Monday, but still within normal range. Below average trading volume can contribute to volatility. All U.S. markets will be closed Thursday.

Stock portfolio makeover: Buy, hold or sell
Investors were in "a holding pattern" Monday with no economic news on tap, said Alan Lancz, president of Alan B. Lancz & Associates. But the rest of the week brings a full plate of economic indicators: a revised reading on U.S. economic growth, housing data and durable goods orders, as well as personal income and spending figures.

Eyes on the Emerald Isle: On Sunday, Irish Prime Minister Brian Cowen formally requested substantial financial assistance from the European Union and the International Monetary Fund. The group is now working to hammer out final details of a rescue package worth tens of billions of dollars.


0:00 /1:30Ireland braces for more cuts