Stocks Point Toward Lower Opening
Wall Street appeared headed for a lower opening Monday as stock markets around the world suffered further selloffs.
The overseas pullback, in which Japan's Nikkei stock average saw its biggest one-day drop since June, resembled the selling that triggered the recent unease in world markets last Tuesday.
The weekend respite appeared to do little to ease concerns about losses over soured loans by subprime lenders. HSBC Holdings PLC, Europe's largest bank, on Monday said its 2006 profits rose 5 percent but that it booked $10.6 billion on losses on bad loans from its U.S. subprime mortgage operations.
The overseas pullback, in which Japan's Nikkei stock average saw its biggest one-day drop since June, resembled the selling that triggered the recent unease in world markets last Tuesday.
The weekend respite appeared to do little to ease concerns about losses over soured loans by subprime lenders. HSBC Holdings PLC, Europe's largest bank, on Monday said its 2006 profits rose 5 percent but that it booked $10.6 billion on losses on bad loans from its U.S. subprime mortgage operations.
posted by Stock Administrator @ 7:41 AM
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