Investors Feeling Wall St. Pain
Thursday, September 18, 2008
New York, NY —
Investors in the financial sector are feeling the pain of zigzagging stock prices in the wake the demise of banking giants Lehman Brothers and Merrill Lynch.
Business school student Robert Cestola started investing overseas eight months ago and says he wants to keep his investments there for now.
CESTOLA: I think that the wisest move would be to stay overseas for now until everything calms down around here and the investment banks get more stable and consumers get more confidence.
REPORTER: Banks Morgan Stanley and Goldman Sachs have seen their stock prices drop dramatically this week. Today rumors circulated that Wachovia might buy out of Morgan Stanley.