Sneaky Dow loses 146

In the immortal words of Ricky Ricardo, wha' happened? What seemed like a pretty benign trading session turned downright ugly in the last hour or two, as bond yields pushed up to 5.13 percent - not a good thing for equities. Higher interest rates could put a damper on the buyout boom as well. The Dow finished the day off 146 points, or 1.1 percent. Among local issues, lots of 2 percent or more declines, including Activision, Countrywide, DirecTV, Edison, Guess, IHOP, KB, IndyMac, Ryland and THQ. (Bloomberg)

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Mark Lacter
Mark Lacter created the LA Biz Observed blog in 2006. He posted until the day before his death on Nov. 13, 2013.
Mark Lacter, business writer and editor was 59
The multi-talented Mark Lacter
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