Stocks closed little changed Thursday on another disappointing jobs report and growing concern over an investigation of banks’ foreclosure practices. But the market made up earlier losses as investors anticipated that the Federal Reserve will take steps soon to strengthen the economy.
Bank and other financial stocks were pummeled as more companies suspended foreclosures on homes while taking steps to confirm that they have fully complied with the law. In a move that effectively froze the market for foreclosed homes, the attorneys general of all 50 states announced Wednesday that they are planning to investigate whether banks took all of the appropriate steps before foreclosing on hundreds of thousands of homes.
Recommended Stories
Print subscriber? Click here to login/register your account
Digital subscriber? Click here to login/register your account.