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Go deeper on emerging topics, as well as key firms and thought leaders
A deep dive into how advisors can best serve the evolving needs of their wealthiest clients
Tax Facts
Anticipate your clients' tax questions on Social Security, annuities and a range of investment products
Popular Financial Topics
Go deeper on emerging topics, as well as key firms and thought leaders
A deep dive into how advisors can best serve the evolving needs of their wealthiest clients
Tax Facts
Anticipate your clients' tax questions on Social Security, annuities and a range of investment products
Popular Financial Topics
Go deeper on emerging topics, as well as key firms and thought leaders
A deep dive into how advisors can best serve the evolving needs of their wealthiest clients
Tax Facts
Anticipate your clients' tax questions on Social Security, annuities and a range of investment products
Popular Financial Topics
Go deeper on emerging topics, as well as key firms and thought leaders
A deep dive into how advisors can best serve the evolving needs of their wealthiest clients
Tax Facts
Anticipate your clients' tax questions on Social Security, annuities and a range of investment products
Popular Financial Topics
Go deeper on emerging topics, as well as key firms and thought leaders
A deep dive into how advisors can best serve the evolving needs of their wealthiest clients
Tax Facts
Anticipate your clients' tax questions on Social Security, annuities and a range of investment products
Popular Financial Topics
Go deeper on emerging topics, as well as key firms and thought leaders
A deep dive into how advisors can best serve the evolving needs of their wealthiest clients
Tax Facts
Anticipate your clients' tax questions on Social Security, annuities and a range of investment products
Popular Financial Topics
Go deeper on emerging topics, as well as key firms and thought leaders
April 01, 2005 at 07:00 PM
The price of common stock issued by American International Group Inc., New York, fell 8.05% today and ended at $50.95.[@@]
The stock, which trades on the New York Stock Exchange, suffered its biggest 1-day drop since October and has fallen 30% since Feb. 14, when it was announced that AIG was subpoenaed by New York Attorney General Eliot Spitzer’s office and the U.S. Securities and Exchange Commission.
AIG has lost about $51 billion of market value since Feb. 14.
“Rating agencies have downgraded AIG, which is a cause of some concern,” says Thomas Russo, a buy-side analyst at Gardner Russo & Gardner, Lancaster, Pa.
“AIG hasn’t filed its 10-K, which is also causing some concern,” Russo says. “And there is the concern about AIG’s finite risk arrangement. All these things have come together to create an atmosphere of uncertainty, and some investors are selling because they are unwilling to bear such uncertainties.”
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