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Monthly Archives: October 2011

Large Cap Stocks Getting Pounded Today

No. Ticker % Change Market Cap
1 S -8.80 9,010,000,000
2 A -8.71 11,650,000,000
3 SINA -8.25 5,170,000,000
4 FSLR -7.76 5,590,000,000
5 WAT -7.12 7,230,000,000
6 TMO -6.78 20,500,000,000
7 LIFE -6.60 7,110,000,000
8 CF -6.59 10,240,000,000
9 CLF -6.44 8,600,000,000
10 CTRP -6.41 5,070,000,000
11 UBS -6.40 45,330,000,000
12 MS -6.39 29,270,000,000
13 STI -6.38 10,170,000,000
14 KEY -6.34 6,240,000,000
15 HOG -6.05 8,320,000,000
16 BAC -5.97 63,640,000,000
17 MPC -5.92 11,870,000,000
18 FBR -5.89 6,750,000,000
19 TCK -5.83 20,080,000,000
20 CHL -5.79 198,230,000,000
21 FITB -5.76 10,220,000,000
22 ECA -5.63 14,650,000,000
23 BAK -5.55 6,900,000,000
24 SLW -5.53 10,990,000,000
25 C -5.50 75,930,000,000
26 IVN -5.50 12,020,000,000
27 DB -5.49 33,700,000,000
28 IVZ -5.45 7,610,000,000
29 AIG -5.36 41,790,000,000
30 MOS -5.25 23,810,000,000
31 MET -5.25 32,450,000,000
32 GS -5.21 49,530,000,000
33 RIMM -5.20 12,720,000,000
34 AEM -5.08 10,050,000,000

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FLASH: FITCH CUTS SPAIN AND ITALY’S CREDIT RATINGS

Stocks turned lower Friday after Moody’s downgraded Italy and Spain’s debt ratings, adding to ongoing jitters over the euro zone debt crisis.

The Dow Jones Industrial Average turned negative, led by BofA [BAC  5.9599   -0.3201  (-5.1%)   ] and JPMorgan [JPM  31.16    -1.22  (-3.77%)   ], afterlogging a three-day rally in the previous session.

The S&P 500 and the tech-heavy Nasdaq were also lower. The CBOE Volatility Index, widely considered the best gauge of fear in the market, traded near 35.

Among the key S&P sectors, financials lagged, while telecom gained.

Fitch slashed Spain’s rating to AA- from AA+, citing risks of slow growth and high regional debt, and Italy’s to A+ from AA-, adding the outlook on its long-term ratings is negative.

In Europe, German Chancellor Angela Merkel and French President Nicolas Sarkozy were split ahead of crucial summit talks over the weekend over how to strengthen European banks and fight financial market contagion to prepare for a possible Greek default.

Meanwhile, Moody’s downgraded 12 UK financial institutions, saying it sees a decreased likelihood of government support for smaller institutions in particular but specifying the move does not reflect a deterioration in the financial strength of the banking system.

READ MORE AT CNBC 

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