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December 2, 2008 4:54:14 AM CST


BNP Paribas

BNP Paribas news stories

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Credit Fears Rock Asian Markets

Subprime mortgage crisis ripples across Pacific

(Newser) - Asian stocks nosedived today as market fears triggered by the US subprime mortgage crisis rippled across the globe. The steepest drop in 5 months echoed upheaval spreading outward from Wall Street, with Toyota and Samsung leading a retreat by large exporters hurt by fears that the lending catastrophe and resultant tighter credit will curtail growth. More »

More about:  subprime mortgages stocks Asian markets Nikkei Asia market BNP Paribas

Euro Bank  Injects $190B to Avoid Crash

ECB's largest-ever emergency cash injection aims to stave off crisis

(Newser) - The European Central Bank has released $190 billion in emergency funds in a desperate attempt to restore liquidity to the region's markets. The Financial Times reports that the ECB's emergency injection echoes moves by central banks in Japan, the US and Canada but is unprecedented in scale. The move rattled investors and sent stocks sliding even further. More »

More about:  subprime mortgages stocks finance markets investors European Central Bank liquidity loans BNP Paribas

Dow Tumbles Over 380 Points

Year's second-worst loss falls on heels of solvency fears

(Newser) - The Dow Jones lost nearly 3% of its value today, tumbling 387.18 points to 13,270.68 in the second-worst drumming of the calendar year. Trading curbs were in place early, after BNP Paribas froze funds that took a bath in the US credit market and Chinese exchanges crashed overnight, but they couldn't prevent the hemorrhaging caused by liquidity fears and looming subprime woes. More »

More about:  Dow Jones S&P 500 subprime mortgages housing market private equity hedge fund stock exchange BNP Paribas

BNP Paribas Halts Fund Withdrawals

France’s biggest bank can’t value holdings after credit collapse

(Newser) - France's largest bank today froze three investment funds threatened by the subprime mortagage collapse, claiming it can’t “fairly” place a value on their rapidly declining assets. Citing the “complete evaporation of liquidity” in the US securities market, BNP Paribas halted withdrawals from the funds, which were worth $2.2 billion, down 20% in less than 2 weeks, Bloomberg reports. More »

More about:  subprime mortgages Bear Stearns bank finance stock mutual funds BNP Paribas

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