Stocks Drop Sharply Due To Home Loan Anxiety
Associated Press August 9, 2007 09:24 AM
Wall Street plunged in early trading Thursday, yanking the Dow Jones industrials down more than 180 points after a French bank said it was freezing three securities funds that struggled to find liquidity in the U.S. subprime mortgage market.
The announcement by BNP Paribas raised the specter of a widening impact of U.S. credit market problems. The idea that anyone -- institutions, investors, companies, individuals -- can't get money when they need it unnerved a stock market that has suffered through...
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posted by Kangaroo Brisbane Australia at 1:40 PM
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