Stocks dropped sharply. At one poi the dow jones was off 250 points. It finished down 195, at 18,143. The nasdaq fell 49. And the s p 500 was off 20. The reason for the swoon, a bloomberg report that some hedge funds cut their exposure to germanys Deutsche Bank. That sent shares of deutsche ba to an alltime low and rippled into the u. S. Financial sector. Thats because the report was reminisct of the financial crisis, when investors sold on news of counterparties pulling business with banks like lehman br and bear stearns. And that nervousness seeped then into the broader market. Bob pisani explains why. Reporte the markets were fairly quiet midday when a report from bloomberg on deutsche dropp the markets. They reported some hedge funds that cleared derivatives trades with the banks and withdrew some positions, a possible sign of concern about doing business with the bank. Its not much of a story, but it did revive long dormant memories of 2008. Deutsche b dropp 7 . European banks abo
At one poi the dow jones was off 250 points. It finished down 195, at 18,143. The nasdaq fell 49. And the s p 500 was off 20. The reason for the swoon, a bloomberg report that some hedge funds cut their exposure to germanys Deutsche Bank. That sent shares of deutsche ba to an alltime low and rippled into the u. S. Financial sector. Thats because the report was reminisct of the financial crisis, when investors sold on news of counterparties pulling business with banks like lehman br and bear stearns. And that nervousness seeped then into the broader market. Bob pisani explains why. Reporte the markets were fairly quiet midday when a report from bloomberg on deutsche dropp the markets. They reported some hedge funds that cleared derivatives trades with the banks and withdrew some positions, a possible sign of concern about doing business with the bank. Its not much of a story, but it did revive long dormant memories of 2008. Deutsche b dropp 7 . European banks about 3 . U. S. Banks dropp
At one poi the dow jones was off 250 points. It finished down 195, at 18,143. The nasdaq fell 49. And the s p 500 was off 20. The reason for the swoon, a bloomberg report that some hedge funds cut their exposure to germanys Deutsche Bank. That sent shares of deutsche ba to an alltime low and rippled into the u. S. Financial sector. Thats because the report was reminisct of the financial crisis, when investors sold on news of counterparties pulling business with banks like lehman br and bear stearns. And that nervousness seeped then into the broader market. Bob pisani explains why. Reporte the markets were fairly quiet midday when a report from bloomberg on deutsche dropp the markets. They reported some hedge funds that cleared derivatives trades with the banks and withdrew some positions, a possible sign of concern about doing business with the bank. Its not much of a story, but it did revive long dormant memories of 2008. Deutsche b dropp 7 . European banks about 3 . U. S. Banks dropp
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