Articles tagged with: stock market
Stocks retreated sharply and Treasury bond prices jumped Monday as investors reacted to a stunning reshaping of the landscape of Wall Street that took out two storied names: Lehman Brothers Holdings Inc. and Merrill Lynch & Co.
The Dow Jones industrial average fell more than 180 points, well off the drop of nearly 350 points seen in the early going.
Stocks posted big losses in markets across much of the globe as investors absorbed bankruptcy plans at Lehman and Merrill Lynch’s forced sale to Bank of America for $50 billion in stock. …