Markets Open Sharply Down
The three-week stock rally opened Friday with a sharp pullback, as investors sold into the market to take some profits out and short-sellers readied for the weekend.
In the first 15 minutes of trading, the Dow is down about 117 points, or about 1.5 percent.
The broader S&P 500 is down about 1.6 percent and the Nasdaq is down almost 1.9 percent.
Analysts are saying this morning that the market drop is a normal part of the bear-market rally and a necessary correction to a Dow that's risen 13 percent in the past three weeks.
-- Frank Ahrens
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By
Frank Ahrens
|
March 27, 2009; 9:48 AM ET
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The Ticker
| Tags: Dow Jones, nasdaq, s&p 500
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