US stocks take another hit
U.S stocks took another hit overnight after news of a $16 billion loss by brokerage firm Merrill Lynch. The benchmark S&P 500 plummeted to a 15-month low with Merrill Lynch shares falling to $49.45 a loss of 10.2 percent.
It was the worse quarter in the companies history and again highlighted the pending recession the worlds biggest market is about to have, if it isn't having one already.
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