The Market Story

Stocks Battered by Global Downdraft

Stock quotes in this article: AIG , PUK , MSFT , PNC , NCC  

Separately, U.K. insurance firm Prudential(PUK Quote) was considering the purchase of segments of struggling U.S. insurer AIG(AIG Quote). AIG has been attempting to sell parts of its asset portfolio to avoid going bankrupt.

As for corporate earnings, following Thursday's close software titan Microsoft(MSFT Quote) reported results that beat estimates but issued a cautious revenue forecast for the coming quarter.

Looking at the day's economic data, the National Association of Realtors said that September existing-home sales increased 5.5% to an annualized rate of 5.18 million. Economists were expecting 4.95 million.

(Photo gallery: Trading Faces)

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