Oct
19
Morgan Stanley Shares Fall on Fixed-Income Drop, Asia Loss
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Investment-management revenue tumbles on Asia private equity
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Fixed-income trading slides 42%, missing analysts’ estimates
Morgan Stanley tumbled 4.8 percent after reporting a loss related to private-equity investments in China and posting what Chief Executive Officer James Gorman called the worst quarter for fixed income since the financial crisis.
The decline was the biggest since Aug. 24 and pushed this year’s drop to 17 percent, the most among banks in the Standard & Poor’s 500 Financials Index. The shares fell to $32.32 at 4:15 p.m. in New York…
Morgan Stanley Shares Fall on Fixed-Income Drop, Asia Loss
