(Reuters) - NEW YORK, Aug 3 - U S. stocks declined on Friday
on weaker-than-expected economic data and evidence the
mortgage market's problems are taking a wider toll on financial
company shares, including Bear Stearns Cos. Inc.
Standard & Poor's said it changed its ratings outlook on
Wall Street investment bank Bear Stearns to negative from
stable, indicating there is a better chance of a downgrade over
the next two years. Two Bear Stearns-managed hedge funds
collapsed last month on bad bets on subprime mortgage
investments.
Read more at Reuters.com Bonds News
on weaker-than-expected economic data and evidence the
mortgage market's problems are taking a wider toll on financial
company shares, including Bear Stearns Cos. Inc.
Standard & Poor's said it changed its ratings outlook on
Wall Street investment bank Bear Stearns to negative from
stable, indicating there is a better chance of a downgrade over
the next two years. Two Bear Stearns-managed hedge funds
collapsed last month on bad bets on subprime mortgage
investments.
Read more at Reuters.com Bonds News
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