(Reuters) - U.S. stocks slid on Tuesday as the subprime mortgage crisis escalated, undermining banking shares, while Home Depot Inc. and other housing-related companies lowered their outlooks.
Standard & Poor's roiled financial markets when it said it may cut ratings on $12 billion of subprime-related debt on forecasts of more delinquent and defaulted U.S. home loans.
Read more at Reuters Africa
Standard & Poor's roiled financial markets when it said it may cut ratings on $12 billion of subprime-related debt on forecasts of more delinquent and defaulted U.S. home loans.
Read more at Reuters Africa
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