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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)
More by Mark Lacter:
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Further fallout from airport shootings
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Mark Lacter created the LA Biz Observed blog in 2006. He posted
until the day before his death on Nov. 13, 2013.