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Writedowns push US market down

Article Date : Thursday, August 07, 2008       Bookmark on Facebook   Bookmark on Del   Bookmark on Digg   Bookmark on Facebook   Bookmark on Reddit   Bookmark on Spurl   Bookmark on Furl   Bookmark on Yahoo   Bookmark on Magnolia   Bookmark on StumbleUpon   Bookmark on BlinkList

Shares in insurer American International Group tumbled as much as 18 per cent on Wall Street overnight after it posted a second quarter loss of nearly $6 billion thanks to massive writedowns in investments linked to subprime mortgages...


Article provided by Australian Broadcasting Corporation.
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Tags: American International Group, USD, Wall Street
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