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Wall St. Rattled by Bank News; Stocks Sell Off

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Sheila Samples

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Concerns about major banks and insurance companies again weighed on the markets. American International Group, the world?s biggest insurance company, fell nearly 5 percent to a 13-year low after the Credit Suisse Group predicted that the insurer would face major losses this quarter because of mortgage-related write-downs.

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Sheila Samples is an Oklahoma writer and a former civilian US Army Public Information Officer. She is a Managing Editor for OpEd News, and a regular contributor for a variety of Internet sites.

Related Topic(s): Banking; Credit; Losses; Selling America; Stockmarket; Wall Street, Add Tags

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