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November 16, 2011 at 17:57 PM EST
Fitch Warns Euro Debt Crisis May Impact US Banks
Fitch warned that the European debt crisis may negatively impact the domestic banking industry sending the markets tumbling to a sharply lower close with the Dow plummeting 190 points to 11,905 as crude oil prices spiked. Nasdaq plunged 46 points to 2639.
On the upside
Shandong Gold offered $1 billion to acquire Jaguar Mining (NYSE: JAG).
Eastman Kodak (NYSE: EK) shareholder Investment Partners Asset Management requested that the company a shareholder rights plan that was adopted on August 1, 2011.
On the downside
Morgan Stanley (NYSE: MS) will pay $3.3 million to settle allegations that its Morgan Stanley Investment Management unit improperly charged investors for advisory services that were never delivered.
Jefferies Group (NYSE: JEF) named Thomas O. Seitz to the position of Managing Director and Equity Research Analyst covering U. S. Telecommunications companies.
In the broad market, declining issues outpaced advancers by a margin of more than 3 to 1 on the NYSE and by more than 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks tumbled 13 to 729.
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