Is The Worst Really Over For Financials? |
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Just as some were saying the worst was over for Wall Street, AIG (AIG: 39.85 -0.43 -1.07%), the world’s largest insurer, reported a $7.8 billion, or $3.09 per share, Q1 loss and reported it would raise $12.5 billion in the coming months. This is far worse than the 76 cents per share loss that analysts had expected and this news sparked fresh fears that the worst may not be over in the financial sector and pushed AIG’s shares down by over 8%. European and Asian shares also fell on higher oil
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