http://www.stumbleupon.com/url/biz.yahoo.com/ap/080711/wall_street.html Comments & Reviews of http://biz.yahoo.com/ap/080711/wall_street.html on StumbleUpon en-us Wed, 11 Nov 2009 07:54:08 -0800 Fri, 11 Jul 2008 12:41:16 -0700 http://www.stumbleupon.com/url/biz.yahoo.com/ap/080711/wall_street.html http://cdn.stumble-upon.com/images/logo_su_36x36.png Fri, 11 Jul 2008 10:36:57 -0700 http://karyn.stumbleupon.com/review/23311827/ Karyn -

From the page: The well-being of Fannie Mae and Freddie Mac is crucial because they hold or guarantee about $5 trillion worth of mortgages -- roughly half the $9.5 trillion debt of the United States. Their troubles are just the latest depressing turn in a year-old credit crisis that shows no sign of ending, disappointing some stock traders who thought just months ago that the worst was perhaps over.

Meanwhile, Citigroup Inc., also struggling with the consequences of failed mortgages, announced it will sell its German retail banking operation to France's Credit Mutuel for $7.7 billion. Global banks and brokerages have scrambled to sell assets and raise capital in an effort to offset nearly $300 billion of write-downs linked to the credit crisis.

Investors also had little reason to shop for bargains Friday because many financial companies are reporting results next week and are expected to announce another round of big write-downs. And there is nervousness on Wall Street over corporate results in general; they're expected to be down overall, and if results are worse than forecast, stocks could take yet another beating.

The market's other trouble spot, oil, continued its ascent on supply concerns. A barrel of oil vaulted to a record above $147, raising more concerns about inflation and the overall economy.

]]> http://www.stumbleupon.com/url/biz.yahoo.com/ap/080711/wall_street.html Fri, 11 Jul 2008 10:26:40 -0700 http://rainfosys.stumbleupon.com/review/23311553/ rainfosys - Fannie, Freddie Send Dow Below 11,000 for First Time in Two Years]]> http://www.stumbleupon.com/url/biz.yahoo.com/ap/080711/wall_street.html