European banks led the declines august 18 2011

Indonesia stock info - European banks led the declines august 18 2011 ; European banks led the declines, in part after The Wall Street Journal reported that U.S. federal and state regulators were intensifying their scrutiny of the U.S. arms of Europe's biggest banks, worrying about spillover from Europe's debt crisis into the U.S. banking system. Societe Generale fell 12% in Paris, Intesa Sanpaolo dropped 9.3% in Milan, and Barclays was off 11% in London.

Others pointed to Morgan Stanley, which late Wednesday cut its 2011 euro-area gross domestic product growth forecast to 1.7% from 2%, and its 2012 GDP growth forecast to 0.5%, from a previous estimate of 1.2%.

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