6/30T2:14 Important News

TALKX Floor Talk: Rumors about troubled banks returning to the market
The major averages saw a fairly sharp pullback in the past half hour (Dow lost about 50 points over that time period), although they seem to be stabilizing right now. The likely reason for the sell-off was another rumor that a big investment bank was having liquidity issues, which was similar to the chatter that circulated last week. However, the muted impact to the major averages (relative to what they would have done 3-6 months ago) suggests that the market isn't quite buying into that type of rumor at this stage. The important thing to be aware of is that these "investment bank in trouble" rumors are starting to circulate on trading desks again, but that as of now, they're not having much of an impact.