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Banks, Lehman, Citi, Merrill Drop 5% |
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Author: 123jump.com Staff
123jump.com
Last Update: 2:10 PM EDT July 14 2008
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U.S. stocks traded lower as financial stocks declined. Zions Bancorp, SunTrust, Bank of America and Comercia fell after Goldman Sachs lowered the outlook for the banks. Lehman Brothers, Merrill Lynch and Citigroup fell more than 5% after Fannie and Freddie rescue plan failed to impress investors. Yahoo dropped after it rejected another overture from Carl Ichan and Microsoft. Apple gained after it sold more than one million iPhone 3G version in the first three days of launch. |
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