A fresh wave of broad-based selling interest sends the major
indices to session lows. The Dow is holding onto a slight gain,
although its advance is modest. Strength in energy (+1.8%) is unable
to offset weakness in the two largest sectors -- tech (-1.2%) and
financials (-2.2%).
Within the financial sector, 83% of stocks are posting a loss. Thrifts
& mortgage stocks (-5.5%) are posting the largest decline, with
Washington Mutual (WM 6.69, -0.85) down 11% and MGIC Investment Corp
(MTG 10.62, -0.71) down 6.3%.