Stock of Goldman Sachs Pulled Down
Stock of Goldman Sachs Pulled Down

It has been reported that last week, U. S. stocks decreased, stopping the longest rally in a year, after accusations of deception at Goldman Sachs Group raised worry that the Government would crack down on Wall Street.

Goldman Sachs fell 10% for the week, the most since March 2009, after the Securities and Exchange Commission prosecuted the bank and one of its vice presidents for supposedly misstating and neglecting important information about a collateralized debt responsibility.

On Friday index, the 1.6% retreat in the Standard & Poor's 500-stock, expunged gains in the beginning of the week urged by better than estimated consequences at firms from Intel to J. P. Morgan Chase and CSX.

The S&P 500 slipped 0.2% for the week, to 1192.13.

On Friday, before losses the index was headed for a seventh weekly advance, the longest since May 2007. The Dow Jones industrial average increased 0.2%, to 11,018.66.

Don Wordell, who oversees the RidgeWorth Mid-Cap Value Equity Fund , stated, "I was very impressed with the earnings we got and the market was doing so well, but then you get a punch in the gut with these Goldman Sachs issues”.

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