WSJ blogs report that with financials taking it on the chin yet again, Morgan Stanley and Bank of America shares each earlier touch their lowest levels in well over two years as investors punished those banks already coping with their own sets of problems.
Concerns over Europe’s debt crisis potentially spilling over to U.S. banks is just another thorn in the side of Morgan Stanley and BofA, which have their own struggles with their trading business and mortgage-related costs, respectively.
Morgan Stanley shares are down 2.7% at $21.69; earlier they touch a low of $21.63. Bank of America is dropping 3.2% at $10.35, the stock’s low point on the day....
Read more at http://blogs.wsj.com/deals/2011/07/11/bank-of-america-morgan-stanley-touch-crisis-lows/
No comments:
Post a Comment