Stocks slump on Goldman

Stocks tumbled Friday, led by financials, after the Securities and Exchange Commission charged Goldman Sachs with fraud related to how it marketed subprime mortgages.

The news overshadowed strong quarterly results from Google, General Electric and Bank of America.

The Dow Jones industrial average (INDU) lost 124 points, or 1.1%, falling from 18-month highs hit earlier in the week. The S&P 500 index (SPX) lost 20 points or 1.6%, also falling from 18-month highs. The Nasdaq composite (COMP) lost 30 points, or 1.2%, faling from 22-month highs.

Read Full Article from CNNMoney

- Posted: 2010-04-16 10:57:23

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