Stock Market Update - Tue Aug 14 11:00:01 EDT 2007

Tue Aug 14, 2007 11:00am EDT

[BRIEFING.COM] The market continues to deteriorate as speculation about a letter to clients from a money market fund halting redemptions is confirmed. Within the last 10 minutes, CNBC reported that Sentinel Management Group has asked permission from the CFTC to halt money market redemptions.

Sentinel's inability to meet significant redemption requests has exacerbated the liquidity concerns that have led many to believe a real credit crunch is forthcoming. As a result, the Financial sector has edged even lower and is now down 1.5% to act as the bottom continues to fall out of the brokers and banks.

NYSE Adv/Dec 867/2169...Nasdaq Adv/Dec 1099/1645
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