January 15, 2009 at 15:50 PM EST
World Markets Groan Under New Dose Of Banking Bad News
It would be nice to think that last year’s direct financial woes are over and now we’re just left to pick up the pieces, but this week has shown that we still have some aftershocks to get through first. At least that’s how markets worldwide reacted today to Bank of America’s (NYSE: BAC) latest news on top of Citigroup’s (NYSE: C) previous poor report. Over the last month, indexes everywhere have shown amazing resilience to poor retail figures, economic tremors and even international conflict and full-blown wars overall. But poor results from the financial sector is another thing altogether. Shockingly enough, this time it wasn’t AIG (NYSE: AIG) acting up. And honestly, even if it was, I’m not sure how the markets would have reacted since that particular financial has already dragged its sorry name through the press one too many times to care [More...]
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