(Bloomberg) -- U.S. stocks dropped and the
Standard and Poor's 500 Index posted its biggest weekly
slide since early March on concern that banks will be
saddled with losses on mortgage bonds.
Bear Stearns Cos., Lehman Brothers Holdings Inc. and
Goldman Sachs Group Inc. led financial shares lower after
the near collapse of a Bear Stearns hedge fund spurred
speculation that investors will have to write down the
value of securities containing subprime mortgages.
Homebuilders in S&P indexes plunged for a fourth straight
week after a gauge of builder confidence fell to a 16-year
low and home starts declined.
Read more at Bloomberg Stocks News
Standard and Poor's 500 Index posted its biggest weekly
slide since early March on concern that banks will be
saddled with losses on mortgage bonds.
Bear Stearns Cos., Lehman Brothers Holdings Inc. and
Goldman Sachs Group Inc. led financial shares lower after
the near collapse of a Bear Stearns hedge fund spurred
speculation that investors will have to write down the
value of securities containing subprime mortgages.
Homebuilders in S&P indexes plunged for a fourth straight
week after a gauge of builder confidence fell to a 16-year
low and home starts declined.
Read more at Bloomberg Stocks News
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