YAHOO [BRIEFING.COM]: The major indices spent the entire session in the red, but some afternoon buying helped pull stocks up from their lows. Early weakness was underpinned by the financial sector, but the afternoon ascent was generally broad-based.

Stocks were led lower by financials in the early going. Financials (-2.9%) were put under pressure when a reputable analyst from Calyon Securities gave a pessimistic analysis of the banking industry by stating that banks' loan losses relative to their total loans should increase to levels that exceed those of the Great Depression.

Adding to consternation, Treasury Secretary Geithner indicated in a weekend interview that the government would consider removing management at financial companies if the government were to offer exceptional assistance to keep those companies operating. The comments indicate the government's increased willingness to exert its influence within the private sector.

Technology stocks (-1.1%) bore weakness. Cisco (CSCO 17.53, -0.63) was a primary laggard among tech names; according to Reuters, its shares were downgraded by analysts at Goldman Sachs.

Shares of Sun Microsystems (JAVA 6.56, -1.93) logged one of their worst performances on record by shedding more than one-fifth of their market cap this session. The stock fell under heavy pressure after The Wall Street Journal reported Sun Microsystems merger talks with IBM (IBM 101.56, -0.66) could be coming undone.

Commodities were also victim of a concerted selling effort. May crude futures contracts finished pit trading with oil priced 4.9% lower at $49.95 per barrel, just above their session low.

Gold prices were under pressure for the third consecutive session. Pit trading concluded with gold priced 2.7% lower at $872.80 per ounce.

Despite the absence of positive catalysts in afternoon trading, stocks were able to pare their losses. The stock market had been down as much as 2.3%, but was able to more than cut that loss in half. As stocks ascended from session lows, health care stocks (+0.6%) and industrials stocks (+0.7%) were able to move into positive ground and post the session's only gains.

News flow is expected to be slow again Tuesday, though things will likely pick up after tomorrow's close, which is when Alcoa (AA 7.91, -0.26) unofficially kicks off earnings season. DJ30 -41.74 NASDAQ -15.16 NQ100 -0.2% R2K -1.9% SP400 -1.2% SP500 -7.02 NASDAQ Adv/Vol/Dec 812/2.05 bln/1866 NYSE Adv/Vol/Dec 923/1.30 bln/2098