Banks battered as sector matches worst day ever
U.S. financial stocks are led lower by State Street Corp.'s losing
more than half its market value after the firm unveils a 71% drop in
earnings.
BANK OF AMERICA NEEDS MORE THAN $80 BILLION IN CAPITAL: FBR
Bank of America needs more than $80 billion in new common equity
capital to support the huge amount of assets on its balance sheet, an
analyst says.
MARKET SNAPSHOT: OBAMA INHERITS BATTERED MARKET; DOW DIPS BELOW 8,000
With financial stocks dragging down equities as George W. Bush exits
Washington, the market's declines are emblematic of the fact that
Barack Obama's new administration is starting from behind, at least in
terms of annualized stock-return performance.
OBAMA SAYS AMERICANS WILL MEET CHALLENGES OF WAR, ECONOMY
The new commander in chief calls on Americans to take part in a "new
era of responsibility" to meet the challenges facing the United States
at home and abroad after being sworn in as the 44th president.
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