Sector Performance 8/28/07

If there is anything positive to say about yesterday's sell off, it is that volume was downright anemic.  Yesterday's S&P 500 volume was only 85% of average, indicating the possibility that the declines were exaggerated as many investors are on vacation.  Financials were the worst performing sector and the only one where volume was actually greater than normal.  Weakness in that sector was partly attributed to a downgrade of the brokerage group, even though it was hardly unexpected.