Financial stocks took a beating Thursday. The Dow dove 137.87 points to 7,801.66, the
S&P 500 sunk 13.17 points to 820.57, and the
Nasdaq fell 8.03 points to 1,522.47.
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Goldman Sachs Group Inc.'s and Morgan Stanley's stocks were hit Thursday. However, the two firms are enduring the losses,
outpacing commercial
lenders.
Morgan Stanley has climbed 30% this year while
Goldman Sachs has gained 7%. Meanwhile, Goldman Sachs' Lloyd Blankfein says it was
asked by the New York Fed last fall to help look for a "private market solution" for insurer American International Group Inc., which seems to be sinking lower below a dollar every day.
AIG said it
will
cooperate fully with the U.K. Serious Fraud Office, which Thursday
announced the launch of an inquiry into the U.K. business operations of
certain subsidiaries of AIG Financial Products Corp. There are also rumors that the Bank of China Ltd. has decided
not to bid for AIG's Asian life insurance unit, American International Assurance.
- Maria Woehr
Troubled Wall Street
Prices at 12:00pm EST |
| Name |
Price at
open |
Price
at 12:00pm |
Change |
Mkt cap |
| J.P. Morgan Chase & Co. |
25.35 |
24.66 |
-1.43 |
92050.85 |
| Goldman Sachs Group Inc. |
92.65 |
92.21 |
-2.50 |
42581.14 |
| Morgan Stanley |
22.42 |
22.23 |
-0.68 |
23886.08 |
| Citigroup Inc. |
3.51 |
3.55 |
-0.14 |
19347.85 |
| Fannie Mae |
0.6 |
0.58 |
-0.02 |
624.20 |
| Freddie Mac |
0.59 |
0.59 |
-0.02 |
381.82 |
| Bank of America Corp. |
5.72 |
5.67 |
-0.40 |
36245.75 |
| Wells Fargo & Co. |
16.54 |
15.69 |
-1.81 |
66347.22 |
| American International Group Inc. |
0.91 |
0.90 |
-0.06 |
2420.94 |
| Fifth Third Bancorp |
2.1 |
2.07 |
-0.18 |
1195.19 |
| Capital One Financial Corp. |
12.77 |
12.67 |
-0.84 |
4931.16 |
| SunTrust Banks Inc. |
9.88 |
9.34 |
-0.74 |
3311.17 |
| U.S. Bancorp |
14.42 |
13.65 |
-1.34 |
23955.75 |
| Regions Financial Corp. |
3.37 |
3.42 |
-0.26 |
2364.47 |
| KeyCorp |
6.8 |
6.99 |
-0.16 |
3460.06 |
| PNC Financial Services |
31.62 |
29.88 |
-3.06 |
13236.84 |
| BB&T Corp. |
17.06 |
15.81 |
-1.86 |
8841.71 |
| Bank of New York Mellon Corp. |
26.42 |
26.07 |
-1.58 |
29940.54 |
| State Street Corp. |
27.33 |
26.46 |
-2.02 |
11419.02 |
Source: The Deal |
