SEC Plans to Temporarily Ban Short-Selling

[jeffrey]

The Securities and Exchange Commission says it will issue a temporary ban on short-selling CNBC has learned.

SEC Chairman Christopher Cox briefed Congress late Thursday of the agency's plans to take the extraordinary step of interfering with the market's regular functioning. Short-selling is a trading strategy of selling borrowed stock in hopes it falls and can be repurchased at a lower price.

The details of the SEC's measures are unclear. The ban must be approved by the commissioners, and there's no word on which stocks are covered or for how long it will be in effect...

SEC Plans to Temporarily Ban Short-Selling - Markets * US * News * Story - CNBC.com