(Bloomberg) -- U.S. stocks declined, erasing a
rally, on concern losses from subprime mortgages are worsening.
Banking shares fell after American Home Mortgage
Investment Corp. said it's unable to fund loans and may have to
liquidate assets. MGIC Investment Corp. and Radian Group Inc.
tumbled after the two home-loan insurers said their combined
stakes of more than $1 billion in a subprime mortgage company
may be worthless.
Read more at Bloomberg Stocks News
rally, on concern losses from subprime mortgages are worsening.
Banking shares fell after American Home Mortgage
Investment Corp. said it's unable to fund loans and may have to
liquidate assets. MGIC Investment Corp. and Radian Group Inc.
tumbled after the two home-loan insurers said their combined
stakes of more than $1 billion in a subprime mortgage company
may be worthless.
Read more at Bloomberg Stocks News
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