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Lehman Brothers (LEH Quote) sank 3% even as the firm tried to shoot down rumors about losses tied to the imploding subprime mortgage market.
The stock sank along with those of its Wall Street rivals Wednesday after an analyst downgraded the group to sell based on worries tied to the demise of two Bear Stearns (BSC Quote) hedge funds.
Adding to the selling pressure at New York-based Lehman was an unconfirmed rumor that the firm was about to announce a big subprime hit of its own. Lehman denied that chatter at midday, but its shares failed to lift. ...
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| Dow Jones | S&P 500 | NASDAQ | 10-Year Note | |
|---|---|---|---|---|
| 10,309.92 | 1,091.49 | 2,138.44 | 32.31 |
Oil *
77.12
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DOWN
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DOWN
19.14
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37.61
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