The Week on Wall Street: Headwinds
The public debut of private equity titan Blackstone Group held the attention of investors on Friday but the widely anticipated IPO was not enough to prop up the overall market, which declined about 1%.
Financial stocks such as Citigroup and Merrill Lynch were in focus on continuing concerns regarding steep losses in two funds operated by Bear Stearns.
Peter Kang is a markets writer at CNBC.com. He can be reached at email@example.com.