Nervous Investors Sell Lehman, Goldman

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Market Update :

Nervous Investors Sell Lehman, Goldman

Author: 123jump.com Staff
123jump.com
Last Update: 7:26 PM EDT March 17 2008

Investors sold stocks of financial brokerage firms after the fire sale of Bear Stearns to JP Morgan. The four largest brokers Goldman Sachs, Merrill Lynch, Morgan Stanley, and Lehman dropped. Investors worried that rising margin call requirements and rapidly declining mortgage securities values may erase equity capital of these companies. European markets, Japan, India, and Brazil fell sharply.

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