AIG fallout drive Wall St sell-off
U.S. stocks fell on a three-year low on Wednesday that the U.S. - save the insurer AIG not calm a crisis of confidence in the world markets and banks were afraid to lend to each other.
The Dow has nearly 450 points and the Nasdaq fell almost 5 percent in its worst days since the awakening of 11 September 2001, shocked investors worried that it could be the next victim of the crisis world credit.
Of the two other major investment banks Goldman Sachs suffered their stocks largest one-day fall ever. Morgan Stanley stock has worst day in at least 15 years, investors are worried whether it is to survive as an independent investment bank in the current environment, after Lehman Brothers Holdings and Merrill Lynch broke was forced to sell itself this weekend.
