I think a lot of people are still afraid about what could happen.
People are fearful of the outlook in general.
People are afraid of what could come out politically.
Some people are saying that they are still a good buy, even though they may not like the share swap offer.
The day started well, but later all those rumors about important people involved in a scandal caused a lot of nervousness. Many people had been already prepared to sell after recent highs and the ball rolled.