Dissecting latest day of disaster

[Biggus Piggus]

Russell 1000 down 7.5%

Value stocks down 9%, growth 6%, main difference was financials

Today the no-short rule on financials expired, guess what happened

Russell Mid Cap down 7.6%

Midcap value down 8.8%, growth down 6.4%

Russell 2000 down 8.7%

Smallcap value down 9.8%, growth down 7.4%

Russell 3000 sectors:

Integrated oils down 12%, financials -11%, rest of energy -10%

Tech down just 3.6%, outperformed because of IBM's decent news

All other sectors down 6-7%

GM's credit rating got downgraded today too, absolutely hammering that stock.  Down another 31%.