Market diary.

The markets took a shellacking during the week ending July 31 as investors sold off stocks on fears that the subprime mortgage crisis was spreading to the broader home mortgage market, prompting a general tightening of credit that could threaten economic growth in the second half of the year. The Dew Jones industrial average plunged 311 points, or 2.3 percent, on July 26 and then kept falling, ending the week at 13,212, down 505 points, or 3.7 percent. The Nasdaq and Standard & Poet's 500 indices fell by similar percentages, closing at 2,546.27 and 1,455.27 respectively. But once again, the LABJ index of 200 local stocks fell more sharply than the national markets, closing down 4.8 percent at 134.54, as 145 stocks declined and only 47 advanced. Every one of the 18 industry sectors fell, led by Internet stocks, which plunged 15 percent. Thirteen local financial services stocks hit 52-week lows, including Fremont General Corp. (down 24.6 percent) and FirstFed Financial Corp. (down 13 percent). In all, 40 stocks hit 52-week lows, while only six hit 52-week highs. The biggest loser on the week was Skechers Corp., which announced a second quarter net income drop that prompted analyst downgrades. Telecom firm CalAmp Corp. posted the biggest percentage gain of 26 percent as the share price rebounded following a steep drop after the company reported a second quarter loss.