Stocks Sunk, AIG Struggles, Credit Turmoil

Stocks sunk across the board today on ultra low volume due to continued turmoil in the credit markets and rising oil. The DJIA dropped -241.81 to 11386.25, the Nasdaq was hit hard losing -49.12 to 2365.59 and the broad based S&P 500 gave back -25.36 to 1266.84.

American International Group (AIG | Quote | Chart | News | PowerRating) led the DJIA lower as the player in CDS's dropped 5.49% or $1.09 to $18.78/share due to Credit Suisse forecasting losses.

Freddie Mac (FRE | Quote | Chart | News | PowerRating) bucked the financial down trend today, climbing 18.15% or $0.51 to $3.32/share after a successful sale of $2 billion of Short Term Notes.

Knight Transportation (KNX | Quote | Chart | News | PowerRating) fell as trucking stocks were downgraded by Wachovia Bank on falling demand. The shares lost 2.71% or $0.49 to $17.59/share.

LDK Solar (LDK | Quote | Chart | News | PowerRating) - The Chinese Silicon Wafer maker climbed 9.78% or $4.48 to $50.30/share on a doubling of deliveries forecast in 2009.Gold lost $7.50 falling to $826.00/oz, oil climbed $0.58 to $115.17/barrel and the fear gauge VIX soared 11.54% to 20.98.

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