Investors not ready to buy in

Investors hoping for bargain hunting to lift the stock market after yesterday’s 311 point drop have yet to see it today. In fact, the Dow staged another triple-digit decline.

Global markets have been weak and Wall Street remains volatile after the second-biggest decline of the year on Thursday.

Helping to boost spirits a bit, the Commerce Department reported that the US economy expanded by 3.4% in the second quarter. GDP had been lackluster in the first quarter.

At the White House, Treasury Secretary Henry Paulson called the market volatility a “wake up call” to investors to re-examine their degree of risk. Investor fears have grown in recent days that the subprime lending crisis has led to tougher borrowing conditions for others.