Updated from 12:41 a.m. EDT
Shares of Lehman Brothers(LEH Quote) sank to their lowest levels in more than eight years Thursday, after a rumor that bond giant Pimco was curtailing trading with the firm.
Lehman's stock, which had dipped as much as 19% Thursday morning, rebounded after a Pimco spokesman denied the rumor. Still, a litany of bad news for government-sponsored mortgage giants Fannie Mae(FNM Quote) and Freddie Mac(FRE Quote) and Capitol Hill testimony painting a grim picture for big banks continued to weigh on the stock.
Lehman shares closed down 12.4% to $17.30. Federal Reserve Chairman Ben Bernanke and Treasury Secretary Henry Paulson testified to the House Financial Services Committee about the need to overhaul regulation of financial markets. ...
Recent Comments
| Dow Jones | S&P 500 | NASDAQ | 10-Year Note | |
|---|---|---|---|---|
| 10,442.63 | 1,107.17 | 2,180.49 | 32.93 |
Oil *
77.68
|
|
DOWN
28.95
|
DOWN
1.69
|
UP
4.68
|
UP
0.18
|
10 Yr
3.29%
SPDR Gold
118.82
|
|
-0.28%
|
-0.15%
|
+0.22%
|
+0.55%
|
Data delayed 20 minutes |
Connect with TheStreet