(Bloomberg) -- U.S. stocks fell after Bear Stearns
Cos. told investors there's little value left in its two failed
hedge funds while Intel Corp. and Pfizer Inc. said competition
hurt earnings.
Financial shares were the biggest drag on the Standard &
Poor's 500 Index after Bear Stearns said ``unprecedented
declines'' in securities used to bet on subprime mortgages wiped
out the funds. Intel, the world's biggest chipmaker, and Pfizer,
the largest drugmaker, led the Dow Jones Industrial Average down
from a fourth-straight record.
Read more at Bloomberg Stocks News
Cos. told investors there's little value left in its two failed
hedge funds while Intel Corp. and Pfizer Inc. said competition
hurt earnings.
Financial shares were the biggest drag on the Standard &
Poor's 500 Index after Bear Stearns said ``unprecedented
declines'' in securities used to bet on subprime mortgages wiped
out the funds. Intel, the world's biggest chipmaker, and Pfizer,
the largest drugmaker, led the Dow Jones Industrial Average down
from a fourth-straight record.
Read more at Bloomberg Stocks News
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