Credit pressures by Claudia Sonea

Wall Street is still under the assault of credit market problems and stocks' own volatility. After an amazing rose of Dow, now the stock prices have lost more than 200 points, ending at 4.54 percent for the year. Other companies have seen their stock prices felling too, Sentinel Management Group Inc. was forced to send a letter to the Commodity Futures Trading Commission for permission to stop investors from withdrawing their money. Also, the S&P 500 is now ahead only 0.58 percent, while Nasdaq's index fell to 2,499.12. Goldman Sachs Group Inc. stated that three funds it manages have had significant losses The funds and other big institutional investors received a big hit after the Wal-Mart Stores Inc. and Home Depot Inc. reported that their profits will be below expectations, they will even have losses. The fact that the world's biggest home improvement chain said there is weakness in the housing market increased the anxiety on Wall Street, where subprime loan and mortgage-back securities are already a concern for investors. Scott Fullman, director of investment strategy for I.A. Englander & Co, said that anymore news about financial problems might affect dramatically the trade on the stock market, therefore the stock investors will move into securities deemed less volatile. Despite the fact that the European Central Bank injected $10.5 billion into money market, normalizing conditions, Fed has not yet made any changes. Customers bowed under economic pressures such as higher oil prices and therefore they rein in spending, making stock prices to bow under credit pressures. What will happen next? Stay connected and find out where is everything heading.

related story: http://news.yahoo.com/s/ap/20070814/ap_on_bi_st_ma_re/wall_street;_ylt=AmnPvRO3xJKS1cDJXazos9Cs0NUE

by Claudia Sonea for PocketNews (http://pocketnews.tv)

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