Credit and Housing Worries Sink Stocks During Thursday’s Trading Hours
U.S. stocks plummeted on Thursday, exhibiting Wall Streets sixth drop during the past seven trading sessions. Investors, worried about future credit loss from mortgage default notes and concerned with declining home prices, began to demonstrate a powerful aversion to risk. Investors, selling stock equity, began to purchase safer U.S. Government bonds; and as a result, money flow into the U.S. Treasury surged, sending bond yields to their lowest in more than two years. Financial stocks took the brunt of the selling, retracing previous gains that were present during Tuesday's rally. The worst decliners amongst the banks included Citigroup, Inc (C.N),…