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Stock Market Update - Fri Aug 10 14:00:01 EDT 2007

Fri Aug 10, 2007 2:00pm EDT

[BRIEFING.COM] Stocks take a turn for the worse as investors scoff at the Fed's decision to step in yet again, this time adding $3 bln in temporary reserves. At $35 bln (the sum of the first two repos), the Fed had already stepped in more aggressively than its actions following the 9/11 attacks to calm a nervous market.

Since a third injection is unprecedented, as such infusions typically only occur during a crisis, investors are again left wondering just how bad the subprime situation is and questioning whether or not an emergency rate cut would even be enough to avert a possible true credit crunch.

NYSE Adv/Dec 1156/2145...Nasdaq Adv/Dec 1184/1832


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