AIG plunges 45% in early trading on Federal Reserve reports
Shares in AIG plunged 45% in early trading in New York on worries that the insurance behemoth might turn to the US Federal Reserve Bank for $40bn worth of backing in an effort to stave off the 'double whammy' of a liquidity crisis and a possible credit downgrade from S&P.
Shares were down to $6.60, down $5.58 on the day. The shares had been down 52% at the start of trading before recovering slightly.
AIG, which has not yet commented on the reports, is known to have
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