Shares of Morgan Stanley sank 10% on Friday as the New York company continued fending off rumors about its exposure to troubled debt in Europe, according to the Wall St Journal,
The slump ended a month of harrowing volatility for investors in Morgan Stanley. Of the six largest U.S. banks, Morgan Stanley shares moved the most on 10 trading days in September, twice as many as Citigroup Inc.
The concern with Morgan Stanley stems from its small size relative to other global financial firms and its reliance on debt markets, rather than customer deposits, to fund its business.
As jitters about potential European debt defaults grow, ..
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