Many investors saw lack of confidence between each other and there were very little number of buyers.
On the other hand, there were plenty of sellers, most of them hedge funds.
This all was caused yet again with credit crunch.
Even though bailout plan of 700 billion dollars was approved it takes time for government to distribute the funds.
Markets responded to bailout plan by taking Dow Jones down and most of the stocks are in their 52 week lows.
The plan was designed to strengthen financial market in US and allows banks to ease credit so banks can loan money to customers.
However, until the money is distributed all investors are waiting if this plan will indeed work.
For now, no one can tell if it will work or it will not work.
Government regulators are working hard to get this money out as soon as possible and everyone is waiting.
The bailout plan comes with a hefty price tag for taxpayers beside Iraq war budget.
This plan has to help economy to gain its strength back and let banks unfreeze their credit lines and allow customer to borrow money as needed.
However, what market told us today even with Bush signing bailout plan into law is that this credit crises is a global phenomenon which took major indexes lower.
There is no solution until we see if the bailout plan actually works.
At this moment everyone has to see and wait, however; stock market cannot wait days or weeks.
Investors do worry how bad it can get, or if we did indeed hit the bottom.
Many financial advisors tell their clients to stay away from market, so therefore no buyers are coming.
What is missing is lack of confidence at this time.
Will there be a recession or maybe depression? The bailout plan needs to be done quickly so market can gain its confidence back.
But US has a strong market share and US will not go out of business any time soon.
Market is just responding to credit crises, banks not willing to lend or have no money to lend.
Everyone is waiting how the bailout plan of 700 billion taxpayers' money will actually work.
Don't panic, in markets like these there many opportunities to buy companies at their lows.
Many investors have optimism that stock market will come back.
But what may not come is those hurt by credit crises.
Companies, employees and business who had to close, lost their jobs or cannot get financing to continue operations are all effected.
Credit crises may spread too far reaching many other business and not allowing them borrow money leaving employees out of jobs.
Or even companies downsizing such as EBay announced job cuts of 10%.
Taking it from another perspective, this allows home prices to drop even further.
No one wants to be negative on their home and that is what bailout plan will try to prevent.
But this creates a huge buying opportunities and more investors will buy out homes for low, low prices.
However, each investor may need financing and that is what is slowing everything down.
If investor or individual buyers cannot get financing, no one can buy a home.
The bailout plan is still a mystery and no guidelines for this plan have been released yet.
How it will work? How will asset manager be paid is all unclear and until there is no positive news, markets will respond in negative way.