Warren Buffett

Warren Buffett: IBM IBM, -7.11% the second-biggest Dow industrials component, announced an earnings miss and a revenue drop before the market opened Monday, and peppered its statement with phrases like marked slowdown and unprecedented change in our industry. The market that needed a shot in the arm, instead got a shot in the foot. Read: Warren Buffett losing over $1 billion on IBM, according to Market Watch. While the first stage of this selloff could be viewed as a healthy adjustment over excessive valuations in some markets such as the U.S., in the later stages fear has been a major driver for that stock slide. The S P 500 SPX, 0.91% is roughly 10% off its record close, which it reached in September and Barbara Kollmeyer Markets reporter MarketWatch It doesnt take much to shock an already shell-shocked market, as IBM Corp. investors discovered Monday. But it does raise a question as to just what this market might need to get back on its feet, as plenty of forecasters are debating if we re in the middle, end or the beginning of a bigger correction. Patrick Legland and Daniel Fermon, analysts at Socit G n rale, tackled that question head-on Monday. (news.financializer.com). As reported in the news.