NEW YORK (CNNMoney) -- U.S. stocks cut some losses late Monday afternoon, but still finished the session sharply lower after Standard and Poor's cut its long-term outlook on U.S. debt to negative.
"I would say investors have been anticipating this somewhat, but when the shoe falls, it sends a vibration throughout the market," said Ron Kiddoo, chief investment officer at Cozad Asset Management.
The Dow Jones industrial average (INDU) sank 140 points, or 1.1%. The S&P 500 (SPX) fell 15 points, or 1.1%, and the Nasdaq Composite (COMP) lost 29 points, or 1.1%.
Earlier in the session, all three indexes were down 2%.
http://money.cnn.com/2011/04/18/markets/markets_newyork/index.htmtick tock...
