Selling Resumes

The stock market has made a precipitous drop and is now trading in negative ground. The Dow Jones Industrials Average is at its worst level of the session and the Nasdaq is testing its session low.
A day after Goldman Sachs noted that Merrill Lynch (MER 32.48, -0.57) may incur additional write-downs, other reports are indicating the same notion. Also likely to incur write-downs is financial services giant American International Group (AIG 27.48, -0.61), according to Bloomberg.com. The report also indicated that AIG's write-downs may push the company to a quarterly loss.
The financial sector is trading lower, currently down 0.6%.