Thursday, May 6, 2010

European banks halt lending

http://www.cnbc.com/id/36988229 The Dow plunged Thursday amid buzz in the market that European banks have halted lending.

One trader, on the condition of anonymity, said he heard fixed income desks in Europe shut down early because there was no liquidity — basically European banks are halting lending right now.

"This is similar to what took place pre-Lehman Brothers," the trader said.