Stock Market Declines on Profit-Taking and Low Volume
By Paul Nowak • Apr 7th, 2009 • Category: Market UpdatesU.S. stocks continued their losses for a second day amid light volume and what analysts viewed as profit-taking from the sharp rally in March. The S&P 500 fell nearly 20 points (-2.39%) while the U.S. and Treasury bonds made gains.
Many investors, including famed investor George Soros, are viewing March’s rally as simply a bear-market rally. Investors are also nervous about earnings reports which are set to be released this week and next for a number of companies, some of which include big banks.
