Thursday, May 6, 2010

Stock Market - #1691 - Dow Plunges Amid Europe Lending Worries - CNBC

The Dow plunged Thursday amid buzz in the market that European banks have halted lending. One trader, on the condition of anonymity, said he heard fixed-income desks in Europe shut down early because there was no liquidity — basically European banks are halting lending right now. "This is similar to what took place pre-Lehman Brothers," the trader said.
The Dow was down about 400 points, or 4 percent, in the final hour of trading, after being down more than 900 points earlier. Treasurys surged.  Read more.....

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