It's been a while since fear stalked the trading floor,but that is just what happened on this one-headline Friday.With the Securities and Exchange Commission filing civil charges against Goldman Sachs,the thought of the day was just who would be next.The financial stocks are so central today,so critical to the market's welfare,any threat to them calls into question the recent rally.All of the largest firms fell big time in a session that saw the Chicago Board Options Exchange Volatility Index jump 15.54.The financials lost 44 billion dollars in value on Friday,while Goldman alone dropped 10 billion.
Nonetheless,even though the cold breath of fear breathed down traders' necks again,the Dow Jones Industrial Average closed with a 0.2 gain for the week.The NASDAQ was up 1.1,but the S&P 500 stepped down 0.2 for the week.The futures gave little hope for the resumption of equities trading on Monday,with the S&P futures down 18.20and the Dow futures off a triple digit at -112,while Treasury futures rose in contrast.
Razorback fans were comforted as Arkansas took a 3-2 lead over the Georgia Bulldogs in college baseball,while some major league fans relaxed with Philadelphia leading Florida 5-1.
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