Stocks Plummet as Downgrade Fears Grip the Market with Onyx Pharmaceuticals (ONXX) and Bed Bath & Beyond (BBBY) on the Move
Posted on June 21, 2012 at 16:31 PM EDT
Closing out the day... Stocks plunged in afternoon trading as investors fled the market on fears of slowing global growth and rumors of an imminent downgrade of all banks by Moody's. Analysts at Goldman Sachs (GS) compounded fears when they sounded alarm bells over the health of the stock market late Thursday morning. In a report, analysts told investors to short, or sell, the S&P 500 until it falls at least 5% below current levels. Stocks inched higher at the open, but quickly turned red after Mid-Atlantic manufacturers said th...(Click the story link or go to http://www.marketintelligencecenter.com for the full story)
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