Wall Street falls as Goldman stirs credit fears; Apple shares dip below $180

“U.S. stocks fell on Tuesday as Goldman Sachs Group Inc’s quarterly results and comments about its business outlook fueled further uncertainty about the prospects for the financial services sector,” Ellis Mnyandu reports for Reuters.

“While Goldman Sachs, the largest U.S. securities firm, reported earnings that topped forecasts, it said it was cautious about its near-term business outlook, saying the subprime market hasn’t yet reached bottom,” Mnyandu reports.

“The Dow Jones industrial average .DJI was down 59.91 points, or 0.45 percent, at 13,107.29. The Standard & Poor’s 500 Index .SPX was down 7.96 points, or 0.55 percent, at 1,437.94. The Nasdaq Composite Index .IXIC was down 18.75 points, or 0.73 percent, at 2,555.71,” Mnyandu reports.

“Investors fear that the credit crisis could hamper lending to businesses and consumers, compounding the outlook for the economy as the housing market deteriorates. There are also growing fears about the specter of rising inflation,” Mnyandu reports.

“Concern that business spending could slow hit shares of technology bellwethers, including Apple Inc. whose stock declined [2.41% to $179.96],” Mnyandu reports.

Full article here.

24 Comments

  1. So What!

    These guys never give up trying to spread fear. This who credit mess is the fault of the greedy lending institutions and the stupid mortgage borrowers that don’t read the fine print that explains what’s going to happen when their variable rate mortgages turn into pumpkins.

    I say bah-humbug let them choke on their greed.

  2. So What!

    These guys never give up trying to spread fear. This whole credit mess is the fault of the greedy lending institutions and the stupid mortgage borrowers that don’t read the fine print that explains what’s going to happen when their variable rate mortgages turn into pumpkins.

    I say bah-humbug let them choke on their greed.

  3. Let’s hear it: buying opportunity! Last chance to get AAPL below $200… er, $190… now, $180…

    Attention Mr. Jobs: can you take the stage this afternoon, please. We can’t wait another 30 days because we won’t have anything left with which to buy the new stuff.

  4. @Gavron – A stock’s price does not change merely on “news” or the movement of its broader index. The big market traders follow many “indicators”, including some esoteric ones such as Elliott Waves, Fibonacci ratios of both time and a stock’s price, etc. There are plenty of trading web sites and books available to find out more.

  5. Nothing like an analyst to whip-saw the market, tell people what to think. Maybe I’m missing something, but I thought the point of the market was individual investors, not some emperor telling it which way to go.

  6. No big deal… The bulls are waiting for next year. Iʻm waiting for MacWorld Jan 15, ʻ08… itʻs good for AAPL to be going sideways or slightly down prior to huge news events and earnings.

    the stock will not drop below 150 again… so 179… no problem. itʻs trading in the low 180s as i type this.

Reader Feedback

This site uses Akismet to reduce spam. Learn how your comment data is processed.