Stock Prices Drop Sharply in Early Trading With Dow Industrials Down More Than 100
NEW YORK (AP) -- Stock prices are sharply lower in early trading today. The sell-off follows a French bank saying it was freezing three of its asset-backed securities funds that have had struggled to find liquidity in the U.S. subprime mortgage market. The Dow Jones industrial average has dropped 109.01 to 13,548.85 in the opening minutes.
http://biz.yahoo.com/ap/070809/wall_street.html?.v=18
U.S. Stocks Tumble on Credit Concerns; Citigroup, Goldman Drop
By Michael Patterson
Aug. 9 (Bloomberg) -- U.S. stocks tumbled after losses tied to subprime mortgages spread through credit markets, threatening earnings at banks and brokerages.
Citigroup Inc. and Goldman Sachs Group Inc. helped lead shares of financial firms lower after BNP Paribas SA, France's biggest bank, halted withdrawals from funds that owned subprime loans because it can't value the holdings. Home Depot Inc., the largest home-improvement retailer, fell after it said the $10.3 billion purchase price for its contractors' unit may be cut.
http://www.bloomberg.com/apps/…d=aFFUt4p2eQOY&refer=home