Goldman Sachs (GS) Under Pressure

Goldman Sachs (NYSE: GS) is under pressure this morning even after reporting better-than-expected earnings yesterday. Credit-defaults swaps on Goldman Sachs rose 20 bps to 440. Dislocation in the credit market is likely exascerbating the fears. The TED spread, which is the difference between the 3-month treasure and 3-month LIBOR, rose to levels not seen since the 1987 crash.

Shares of Goldman are down 10% to $119.72, near 52-week low levels.

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