Stocks were on a roller-coaster ride today, falling as much as 437 points at one point, due to investors fear that the rash of corporate scandals would continue to grow. The market recovered at the close, but the Dow Jones industrial average still had its sixth straight losing session, its longest consecutive streak since January. The Dow closed down 45.34, or 0.52%, at 8,639.19. All numbers are preliminary.
Even todays announcement of the $60 billion Pfizer Inc. acquisition of Pharmacia Corp. wasnt enough to buoy the market early on, said Steven B. Young, senior market strategist at Banc One Capital Management. "The market keeps sliding down, despite even good news. Its difficult for this market to find a bottom, he said.