Lenders could lose $168 billion if banks sell loans into the Public-Private Investment Partnership at market prices instead of their balance-sheet valuation, Jamie McGee and Margaret Chadbourn of Bloomberg News report, citing estimates in regulatory filings.
U.S. stocks fell, sending the Standard & Poor’s 500 Index to its longest losing streak in seven weeks, as banks dropped on concern over financial regulation and after the cost to protect from a Greek default surged to a record, while consumer shares retreated.
Funds that invest in debt securities issued by state and local governments fell the most in two years today as losses in the municipal bond market were exacerbated by a rise in their cost of borrowing.
Stocks rose, with the MSCI World Index extending its longest advance in 11 months, as a late-day rally in technology shares helped the U.S. market reverse an early drop. The euro gained as a Spanish bond sale eased concern the region’s debt crisis will worsen. Gold rallied.
U.S. stocks fell, with the Dow Jones Industrial Average closing below 10,000 for the first time since February, as a report that China may review investments in European government bonds spurred concern the credit crisis will worsen and wiped out an early rally.
U.S. stocks rallied, sending the Standard & Poor’s 500 to the highest close in 10 weeks, after better-than-estimated earnings at companies from Humana Inc. to Allergan Inc. and manufacturing data that topped forecasts.
U.S. stocks rose, erasing an early slide , and Treasuries pared gains as higher oil and copper prices fueled a rally in commodity producers and banks climbed amid speculation the Federal Reserve will take steps to spur the economy. Apple Inc. rose 2.6 percent before reporting earnings.