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In the financial services industry of the future, too big to fail may be both a bigger understatement and bigger possibility than today – and at no small cost.
Stocks shot out of the gate like a rocket Friday after the Federal Reserve, Treasury and SEC jumped in to triage the meltdown in the banking system with measures including a ban on short selling in financials. The Dow jumped more than 300 points higher at the open. Brokerages and banks roared higher, with Goldman Sachs, Merrill Lynch, Morgan Stanley, Wachovia and Washington Mutual all up more than 30 percent.
Wall Street was poised for a big Friday at the end of a rollercoaster week after the Federal Reserve, Treasury and SEC jumped in to triage the meltdown in the banking system with measures including a ban on short selling in financials.
Remember, it's a quadruple witching expiration (expiration of stock and stock index options, and stock and stock index futures). The S&P 500 options stopped trading at the CLOSE last night, however the settle price is at the OPEN this morning.
CNBC's Maria Bartiromo discusses Thursday's wild market ride and rally, and looks ahead to Friday's events.
While the debate is on whether stocks are at a bottom, there might be a silver lining to the current financial crisis. Wednesday marked the 12th time the Dow & S&P have both been down by more than 7% over the same 3-day period. Whenever that's happened in the past, it's usually been followed by major increases--even a month later.
The Mad Money Wall of Shame has been eerily predictive of which company bosses are most likely to take a permanent vacation.
Morgan Stanley -- one of the two last independent, U.S.-based investment banks -- is in advanced merger talks with Wachovia Bank, according to sources close to the company.
The storm hitting Wall Street ramped up to category 5, and it's not over. Wednesday's markets illustrated in every way the fears investors have been living with since the credit crises began a year ago.
Morgan Stanley is negotiating with the Chinese government for a fresh infusion of funds into the beleaguered investment bank, sources tell CNBC.
Don't let volatility scare you out of this market. There are opportunities to be had.
Wall Street suffered another beating Wednesday at the hands of investors panicking over the state of large banks, as they flocked from stocks and sent safe-haven areas like gold soaring.
As the crisis on Wall St. continues, there continue to be a number of financials that are up over the past three days. Here is an updated list of the S&P Financials that are winning and losing in the aftermath.
For a solution, Cramer says, we need only study our past.
Hasty takeovers, government bailouts, bankruptcy filings, CEO ousters and lots of interest rate cuts. Click for the big events of the big bust.
What banks are worth buying?
Bank of America added another slice to its growing financial services empire, buying Merrill Lynch in a $50 billion deal that would create a bank offering everything from fixed-income trading to credit card lending
The already roiled markets have a new fear: the survival of AIG.
Stocks had their worst selloff since the Sept. 11 attacks in 2001, with the Dow plummeting more than 500 points amid escalating fear about a collapse of AIG.
The Dow and S&P 500 fell over 4.5% today, while the Nasdaq composite dropped 3.6%, as concerns over the health of the financial sector intensified following the decision of Lehman Brothers to file for Chapter 11.