2:30 pm : The bottom continues to fall out of stocks as concerns about sub-prime mortgage misfortunes spreading into the broader economy and signs of liquidity drying up continue to weigh on the proceedings.
Even though Fed Chairman Bernanke put to rest those fears in a Q&A session after speaking before the House Budget Committee on Wednesday, his words appear to have since fallen on deaf ears. Countrywide Financial (CFC 37.05 -0.39) has since reported in an SEC filing that delinquencies surged 19% last year while U.S. regulators today demanded tougher standards for sub-prime adjustable-rate mortgages.DJ30 -109.07 NASDAQ -31.43 SP500 -14.97 NASDAQ Dec/Adv/Vol 2211/750/1.66 bln NYSE Dec/Adv/Vol 2390/834/1.22 bln
