Updated from 7:01 a.m. EDT
Wow. That was some volatility. On the heels of the Lehman bankruptcy, we now have
American International Group
on the menu. Its shares tumbled again after the insurer's credit ratings were cut. Late on Monday, Standard & Poor's cut AIG's long-term credit rating, as did Moody's Investors Service.
Investors are consumed with concerns that AIG might file for bankruptcy and further upset the already-suffering global financial system. The shares recovered much of their early losses after
on Tuesday reported that government money might be used in a bailout of AIG. But the shares later fell back after the network said that U.S. Treasury Secretary Henry Paulson opposed using government money and that a private-sector solution wasn't likely. So who knows?
One thing is for sure: AIG will continue to dictate market movements.
, the world's largest investment bank, on Tuesday reported its worst slump in profits since going public in 1999. Third-quarter profit plunged 71% from the year-ago period. Goldman's results reflect continuing damage from the ongoing credit crisis that has already crushed three of its rivals.
It's hard to say where we go or how to play it, but there are definitely some compelling value plays out there.
With this in mind, we thought we'd take a look at Tuesday's top-searched stocks from
and see what Jim Cramer's had to say about them recently.
(Editor's note: At the time of publication and/or original publication of his posts and shows, Cramer owned Goldman Sachs, General Electric, JPMorgan, Morgan Stanley and Hewlett-Packard for his Action Alerts PLUS charitable trust.)
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