Merrill Lynch's shares drop on concerns about sector

09/12/2008 | Reuters

Shares of Merrill Lynch declined almost 17% on Thursday as investors became increasingly concerned about which investment bank's survival would come into question next. "I think the market's telling you that if Lehman [Brothers] is going to go away, Merrill is probably the next victim," said Malcolm Polley, chief investment officer at Stewart Capital Advisors.

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