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HSBC is cutting back in the U.S. after its 2003 purchase of Household International Inc. required it to set aside more than $65 billion for bad loans

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HSBC drops again overnight as investors move out

The FTSE 100 remained weak this morning, easing to 4167.56, down 13.08 points at 11:30 am while the FTSE 250 retreated to 6245.65, down 117.94 points. Standard Chartered climbed to 789.5p, up 5.9 per cent or 44p as investors moved out of HSBC, which fell another 4.33 per cent or 25.5p to 563.25. By our calculations HSBC showed a 260 percent increase in volume as shares sank.

It should be a very interesting day for the Dow as JPMorgan Chase reported more losses. The market expects HSBC to do the same, putting more pressure on the bank. Even large banks with an international footprint are not immune from more hardship, as evidenced by Citigroup and JPMorgan Chase.

Posted By Timothy Blake

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UPDATE NOTE: HSBC car loans were sold to Santander USA in 2010 :: Most HSBC credit cards became Capital One credit cards in 2012 :: HSBC horrible predatory home mortgages are in run-off