Business Update: Nasdaq retreats

March 27, 2009

The Nasdaq headed sharply lower on Friday, one day after a solid rally helped it temporarily wipe away all of its losses for the year. Traders pinned the declines mostly on profit-taking after the big rally seen in recent weeks. Another round of upbeat signals from the consumer did little to tame the selling. President Obama speaks with bank leaders ahead of global discussions on how to fix the world's economy. Speaker: David Henderson, NYSE trader, Dru Stock Conway Gittens reports from New York.