Tuesday, Jul 15, 2008
Banks bore the brunt of the slide with Fortis the session's biggest loser.
yahoo news: Stocks slip as financial worries persist
Fears about the world banking system overwhelmed lingering support in equity markets for a U.S. government plan to rescue mortgage finance companies Fannie Mae and Freddie Mac, sending the dollar to a fresh record low against the euro.
Investors also bid up the price of safe-haven government debt and gold.
"The U.S. housing crisis is getting worse and it has now spread from the 'subprime' segment to the 'prime' segment, with regional banks getting hit now," she added.
Posted by malct @ 10:21 PM (229 views) Add Comment
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