The Traderszone Network

Jim Cramer goes through the list of unexpected events that prompted the sell-off on Thursday and says the market is too crazy to buy stocks.

Former Massey Energy Chief Executive Don Blankenship was found guilty in federal court on Thursday of conspiring to violate safety standards at the Upper Big Branch mine, the site of a 2010 blast that killed 29 people. Relatives of those killed and prosecutors hailed the decision as sending a message on mine safety in coal-rich West Virginia even though the jury found Blankenship not guilty of making false statements and of securities fraud.

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Standard & Poor’s cut its nonoperating holding company ratings on eight U.S. “global systemically important banks” by one notch, citing uncertainty about the U.S. government’s willingness to …

U.S. officials and lawmakers urged business leaders on Thursday to get behind a Pacific trade pact as they vowed an all-out effort next year to get the deal through the U.S. Congress. Negotiators from 12 countries sealed the Trans-Pacific Partnership trade pact, a key plank of U.S. President Barack Obama’s outreach to Asia, in October, but it has so far won a mixed reception in Congress. Senior White House officials told a gathering of top CEOs who advise Obama on trade that they planned an all-out push next year for the TPP, mirroring a campaign for key trade legislation this year.

Mexican billionaire Carlos Slim said on Thursday he will not give away his family’s shares to charity like Facebook founder Mark Zuckerberg. Earlier this week, Zuckerberg announced he would donate 99 percent of his Facebook shares, currently worth about $45 billion, to a new philanthropic project he will run with his wife. Slim, speaking at an event in Mexico City, said that Zuckerberg’s plan was “very good,” but that governments already have the resources to address poverty and education issues.

Cerberus, a New York-based private equity firm, would also take an equity stake in Avon, which has a market capitalization of close to $1.6 billion and long-term debt of around $2.2 billion, the people said. Avon also had $587 million in cash as of the end of September. Separately, activist investor Barington Capital Group has built up a 2.8 percent stake in Avon and is launching a campaign to force changes at the company, the people said.

Markets around the world fell after the European Central Bank’s monetary policy moves disappointing some investors.