U.S. stocks dive deeper, Dow closes with 387 point loss

4:06 pm ET Aug 9, 2007

DJIA

13,270

-387.18

S&P

1,453

-44.40

NASDAQ

2,556

-56.49

10Yr

4.79%

-0.070

U.S. stocks dive deeper, Dow closes with 387 point loss

NEW YORK
U.S. stock losses accelerated Thursday, socking the Dow with its second
worst close so far this year, as reports of liquidating hedge funds
triggered more credit-related anxiety that sparked three central banks
to attempt an intervention.

Bad loans pile up as another $43 billion in deals delayed

SAN FRANCISCO
In the past two weeks, another 13 corporate loan or bond deals have been
postponed or reduced, representing slightly less than $43 billion,
according to new research released Thursday by Baring Asset Management.

Portfolio liquidation triggers turmoil among hedge funds

SAN FRANCISCO
The liquidation of a big hedge fund or investment-bank trading portfolio
is wreaking havoc in some parts of the hedge-fund business, according to
managers and investors.

BNP suspends fund valuations amid credit-market turmoil

LONDON
BNP Paribas, one of the largest banks in France, said Thursday that it
will stop valuing three of its funds and is suspending investor
withdrawals after U.S. subprime-mortgage woes led to the "complete
evaporation of liquidity," the latest sign of housing market troubles in
the world's biggest economy rippling across the globe.