Thursday, Aug 09, 2007
This may explain the dash for cash
HuffingtonPost: Stocks Drop on Rising Credit Anxiety
NEW YORK — Wall Street fell sharply again Thursday after a French bank said it was freezing three funds that invested in U.S. subprime mortgages because it was unable to properly value their assets. The Dow Jones industrials fell more than 200 points.
The announcement by BNP Paribas raised the specter of a widening impact of U.S. credit market problems. The idea that anyone _ institutions, investors, companies, individuals _ can't get money when they need it unnerved a stock market that has suffered through weeks of volatility triggered by concerns about available credit and bad subprime mortgages.
Posted by lvmreader @ 08:17 PM (332 views) Add Comment
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