среда, 14 марта 2012 г.

Wall Street Slides As BofA Disappoints

NEW YORK - Wall Street fell in early trading Thursday after Bank of America Corp. missed analysts' earnings expectations and provided investors with further evidence of how the credit crisis has hurt the economy.

BofA, considered a bellwether for the banking industry because it has branches across the country, said "significant dislocations" in the capital markets caused third-quarter results to fall 32 percent. The disappointing results follows similar reports from other financial companies including Citigroup Inc. and Washington Mutual Inc.

Banks and brokerages have been hurt during the third quarter in the fallout from the subprime mortgage crisis. As people with weak …

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