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Brokerage stocks underwent a fresh selloff on Tuesday after several analysts issued pessimistic outlooks on the businesses.
Shares of Bear Stearns(BSC Quote), Lehman Brothers(LEH Quote) and Goldman Sachs(GS Quote) recently were dropping between 3% and 4%. Morgan Stanley(MS Quote) and Merrill Lynch(MER Quote) were falling between 3% and 5%, while shares of Citigroup(C Quote) and JPMorgan Chase(JPM Quote) were dipping more modestly.
Analyst Richard Bove of Punk Ziegel slapped renewed sell ratings on Bear Stearns, Lehman and Goldman. He already has sell ratings on Morgan Stanley and Merrill Lynch. ...
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