The major indices remain under pressure, trading near their recently reached session lows.
The financial sector has been hit especially hard (-4.2%). Retail REITs
are down 8% following disappointing results from General Growth
Properties (GGP 2.53, -1.96). Investment banks and brokerages are down
5.1%. Meanwhile, bond insurers MBIA (MBI 8.38, -2.08) and Ambac (ABK
2.29, -1.11) are getting hammered after reporting larger-than-expected
quarterly losses.