Tumbling down

The nightmare continues for Bear Stearns. They opened at $55 last Friday; this morning the stock is set to open a little over $3. The 52-week high shown on Google finance is $159.36. The current trading price is predicated upon the JP Morgan Chase arrangement to purchase Bear Stearns at $2 a share. Bear Stearns could still end up with a different owner.

JP Morgan Chase is mostly unchanged in premarket trading.

It’s time for the opening bell.