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Article: Stocks Fluctuate After Pullback
- Article from:
- AP Online
- Article date:
- November 6, 2007
- Author:
CopyrightCopyright 2007 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. (Hide copyright information)
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Stocks fluctuated Tuesday, continuing the erratic pattern of the previous session, as investors tussled with renewed concerns about growing credit problems at big financial companies.
Big names such as Citigroup Inc. and Merrill Lynch & Co. have stirred gloom on Wall Street by taking or warning of big debt write-downs. Citi and Merrill, among others, have been bombarded by securities they hold that are tied to subprime loans, those made to borrowers with poor credit. A sharp pullback in housing prices has tripped up borrowers and sent mortgage defaults higher. That soured debt has come back to haunt banks.
While investors appeared willing to look past some unease about ...