Beleaguered fund manager New Star's share price has plummeted again this morning as investors are left reeling from another dire 24-hours for global stock markets.
The uncertainty surrounding the John Duffield-led group has continued to spook investors, with the manager down a further 16% early. In the US overnight, the Dow Jones IA lost half of its solid gains last week in just one session, with the index of leading shares plummeting 679.95 points, or 7.7%, to 8,149.09. American financial giants were at the forefront of the losses, with troubled Citigroup 22.2% lower, Bank of America down 20.92%, AIG 17.91% behind and JPMorgan Chase diving 17.5%. Other US indices suffered a similar fate, the S&P 500 lost 8.93% and the Nasdaq nosedived 8.95%. ...
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