Investors are selling off bank stocks for a second day as fears mount about bank' losses on bad mortgage loans and foreclosure paperwork.
Shares of Bank of America Corp. and JPMorgan Chase & Co. are down more than 3 percent. Shares of Citigroup Inc. and Wells Fargo & Co. are down 1.35 percent and 2 percent, respectively. The broad Standard & Poor's 500 index is up by a fraction of a point.
Investors are worried the fallout from the growing crisis could lead to big costs for banks, who potentially face fines and lawsuits and may be forced to repurchase faulty loans.
Credit Suisse analysts said demands by investors for banks to repurchase loans was likely to remain elevated and lead to continuing high costs, but they expected Washington to step in to resolve the documentation issues.
发表于 2010-10-15 13:03
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