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Lehman Brothers Holdings Inc shares fell as much as 40 percent on Tuesday to their lowest level in nearly a decade on concern the fourth-largest Wall Street investment bank would be unable to raise needed capital.
Much of the decline came after reports that Lehman's talks with state-owned Korea Development Bank on a possible capital infusion had ended.
In early afternoon trading, Lehman shares were down $4.89, or 34.6 percent, at $9.26 on the New York Stock Exchange. They earlier fell to $8.50, their lowest level since October 1998, Reuters data show.
"The market fears that no one will inject capital in the company," said Nick Kalivas, equity market analyst at MF Global Research in Chicago. |
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