AGL 40.30 Increased By ▲ 0.30 (0.75%)
AIRLINK 127.16 Increased By ▲ 0.12 (0.09%)
BOP 6.65 Decreased By ▼ -0.02 (-0.3%)
CNERGY 4.49 Decreased By ▼ -0.02 (-0.44%)
DCL 8.63 Increased By ▲ 0.08 (0.94%)
DFML 41.89 Increased By ▲ 0.45 (1.09%)
DGKC 87.75 Increased By ▲ 0.90 (1.04%)
FCCL 32.80 Increased By ▲ 0.52 (1.61%)
FFBL 64.88 Increased By ▲ 0.08 (0.12%)
FFL 10.27 Increased By ▲ 0.02 (0.2%)
HUBC 109.70 Increased By ▲ 0.13 (0.12%)
HUMNL 14.87 Increased By ▲ 0.19 (1.29%)
KEL 5.14 Increased By ▲ 0.09 (1.78%)
KOSM 7.51 Increased By ▲ 0.05 (0.67%)
MLCF 41.90 Increased By ▲ 0.52 (1.26%)
NBP 59.68 Decreased By ▼ -0.73 (-1.21%)
OGDC 194.50 Increased By ▲ 4.40 (2.31%)
PAEL 28.22 Increased By ▲ 0.39 (1.4%)
PIBTL 7.83 No Change ▼ 0.00 (0%)
PPL 152.12 Increased By ▲ 2.06 (1.37%)
PRL 26.70 Decreased By ▼ -0.18 (-0.67%)
PTC 16.21 Increased By ▲ 0.14 (0.87%)
SEARL 86.02 Increased By ▲ 0.02 (0.02%)
TELE 7.61 Decreased By ▼ -0.10 (-1.3%)
TOMCL 35.40 Decreased By ▼ -0.01 (-0.03%)
TPLP 8.17 Increased By ▲ 0.05 (0.62%)
TREET 16.18 Decreased By ▼ -0.23 (-1.4%)
TRG 52.99 Decreased By ▼ -0.30 (-0.56%)
UNITY 26.58 Increased By ▲ 0.42 (1.61%)
WTL 1.25 Decreased By ▼ -0.01 (-0.79%)
BR100 9,953 Increased By 69.1 (0.7%)
BR30 30,951 Increased By 351.4 (1.15%)
KSE100 93,889 Increased By 533.8 (0.57%)
KSE30 29,094 Increased By 163.4 (0.56%)

US stocks fell sharply on Friday, with all three major averages down over 1 percent, as a pair of troubled Bear Stearns hedge funds stoked concerns that other investment banks may face large losses from subprime mortgages.
Further weighing on financials, the US Congress introduced a bill to end the carried interest tax advantage, a move seen as targeting investment fund managers. The bill coincides with the stock market debut of the Blackstone Group LP, the largest private equity fund to go public.
Wall Street banks unwound positions this week in two Bear Stearns Cos. Inc hedge funds heavily invested in subprime home loans, reigniting concerns about wider fallout.
The Dow Jones industrial average was down 149.98 points, or 1.11 percent, at 13,395.86. The Standard & Poor's 500 Index was down 17.01 points, or 1.12 percent, at 1,505.18. The Nasdaq Composite Index was down 27.05 points, or 1.03 percent, at 2,589.91. Decliners were outnumbering advancers by a wide margin on the NYSE. All but one of the Dow's 30 components were trading lower.

Copyright Reuters, 2007

Comments

Comments are closed.