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Wall Street tumbled to a three-year low on Wednesday after the rescue of AIG failed to calm a crisis of confidence in global markets, leaving banks scared to lend to each other.
"Panic" is breeding stock-buying opportunity, says Bill Quinn, chairman of American Beacon Advisors. He offered CNBC his investment advice amidst market turbulence.
Washington Mutual has put itself up for auction, people briefed on the matter told the New York Times.
Even as the money in your low-interest bearing savings account is probably making you more this week than the money in your trading account, the money in your brokerage account is actually probably safer from an insurance perspective.
The U.S. dollar dropped Wednesday against the euro and against the yen, after news that the Federal Reserve would bail out AIG. But CNBC's Matt Nesto reports that the Fed continuing to hold interest rates steady might make the greenback a good buy.
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.
But late news of possible deals involving Morgan Stanley and Washington Mutual might help ease market jitters on Thursday.
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.
On Monday, for example, mutual fund investors panicked and pulled $10.9 billion out of the market (TrimTabs), with particularly large outflows ($4 b) from global funds.
Morgan Stanley is trading down 16 percent, despite several positive analyst comments on their earnings, as traders note that credit spreads are widening. The Reserve's Primary Fund, a money market fund, "broke the buck" (the net asset value of the fund fell below $1) because it owned Lehman paper.
The unprecedented government rescue of insurance giant AIG calms the market's angst, but the question is whether credit markets will cooperate with the Fed and what other shoes are there left to drop.
Morgan Stanley announced quarterly results earlier than expected, and Sandisk rejected a buyout offer from Samsung. Here's how to trade the news.
Maria Bartiromo discusses Tuesday's top business and financial stories -- and looks ahead to tomorrow's events.
Morgan Stanley, announcing quarterly results earlier than expected, reported a profit that declined slightly but blew past analysts' earnings expectations.
Morgan Stanley trading up 3 percent after the close, as it pre-announced earnings above expectations. CEO John Mack said, "We have continued to actively reduce our legacy postions and carefully manage our risk, capital and liquidity." Several factors worked in favor of today's modest but important rally.
Stocks rallied at the close after the Federal Reserve held the line on interest rates and investors were encouraged that Lehman Brothers and American International Group might work out deals to improve their perilous financial situation.
If this company goes under, Cramer says, the market will freeze.
There was booing on the floor as the Fed announced they would leave rates unchanged. But others applauded, noting that lower Fed funds rates will not accomplish notably lower consumer rates, particularly mortgage rates...
If no private equity bridge loan: 20 percent chance that a sov. wealth fund or private equity would offer a high interest rate loan with an option to buy the entire company at a price above the present market value.