(Bloomberg) -- Asian stocks fell after a U.S. lender
said it lacks cash to fund new loans, reigniting concerns that a
decline in the country's subprime loan industry will curb growth
in the world's largest economy.
Macquarie Bank Ltd., Australia's largest securities firm,
plunged after it said investors in some of its high-yield funds
may lose as much as 25 percent of their money amid the fallout in
U.S. subprime mortgages. Sony Corp. led declines among exporters
on concern the U.S. housing rout will dent consumer spending.
Read more at Bloomberg Stocks News
said it lacks cash to fund new loans, reigniting concerns that a
decline in the country's subprime loan industry will curb growth
in the world's largest economy.
Macquarie Bank Ltd., Australia's largest securities firm,
plunged after it said investors in some of its high-yield funds
may lose as much as 25 percent of their money amid the fallout in
U.S. subprime mortgages. Sony Corp. led declines among exporters
on concern the U.S. housing rout will dent consumer spending.
Read more at Bloomberg Stocks News
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