Jefferies Slides on Concern About Impact of Europe Debt Crisis
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Jefferies Group Inc. fell as much as 14 percent today as investors renewed their focus on Europe’s financial crisis, prompting the investment bank to say it has “no meaningful exposure” to debt issued by Portugal, Italy, Ireland, Greece and Spain.
Jefferies dropped 10 percent to $11.89 at 9:37 a.m. in New York trading, the stock’s biggest decline since February 2009, and sold for as little as $11.34. The shares have lost more than half their value this year.