Wall Street Roundup: Jitters in Europe. Parsing Goldman

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European jitters. The downgrades of Portuguese and Greek bonds set stocks sliding in Europe, but the International Monetary Fund appeared to be nearing conclusion on a rescue package.

Parsing Goldman. Commentators have warring views (Washington Post, Real Clear Markets) of what Tuesday’s Goldman Sachs hearing meant. Investors showed confidence in the company by sending stock shares up.

Another vote. In the fascination with Goldman, many ignored that Senate Republicans again succeeded in stopping debate on the financial reform bill. The vote on financial reform is expected to be taken yet again Wednesday.

Hedge-fund probe. The Securities and Exchange Commission is looking at whether hedge funds used illegal maneuvers to protect clients during the credit crisis, the Wall Street Journal reports.

-- Nathaniel Popper