a) Heightened anxiety about increased legislative regulation in wake of Japanese semi-meltdown.
b) Buffett purchasing a chemical producer.
A nice buying opportunity to the patient investor, in any case. The Berkshire purchase was only $9 billion, leaving buffet with $30 billion in spending money. Although unlikely, he can still buy out exc at a 7 percent premium.
With PIMCO dumping US bonds, coupled with slow global growth / double dip concerns likely keeping rates low, I feel utilities are the new bonds.