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US stocks open lower on financial sector worries

US stocks open lower on financial sector worries

Stocks are falling in early trading amid growing anxiety over the financial sector, particularly mortgage financiers Fannie Mae and Freddie Mac and the investment bank Lehman Brothers Holdings Inc.
Another rise in the price of oil also has traders on edge.
A slew of analysts have been downgrading banks and brokerages over the past few weeks, and late Wednesday, Citigroup analyst Prashant Bhatia lowered his third-quarter estimates for the investment banks Lehman Brothers Holdings Inc., Goldman Sachs Group Inc. and Morgan Stanley.
The Dow Jones industrial average is down 92 at the 11,325 level.


Updated : 2021-03-05 18:54 GMT+08:00