Stocks Slump on Investor Uncertainty over Greek Bailout (C, AMZN)
Investors are increasingly uncertain that Greece will accept the terms of the new bailout, and the slight fall in major indices reflected that anxiety today. In financial news, there are reports of a $25 billion settlement in the pipeline between the top for US banks and all of the 50 state attorney generals over their foreclosure processing. In corporate news, Citigroup (C) got the green light from Chinese officials to start issuing credit cards in China, which some are taking as a sign that the country may be opening up their banking industry to a greater extent than they have shown a willingness to do previously.A website devoted to ereading news today reported that Amazon (AMZN) would be opening a brick-and-mortar retail store in Seattle, signalling a dramatic shift in its business model.
Word on the Street
- Anxiety over the new Greek bailout brought stocks slightly down today.
- A big settlement over faulty foreclosure processes with the top four US banks is in the works.
- Citigroup (C) has been allowed to issue credit cards in China.
- Amazon (AMZN) will reportedly be opening a physical retail store in Seattle.
Published on Feb 6, 2012By InvestorGuide Staff