this is an extract from an announcement made by bloomberg this...

this is an extract from an announcement made by bloomberg this morning........

Selling First'

Lehman led declines in 17 of 29 stocks in the S&P 500 Diversified Financials Index as the measure of banks and brokerages slumped to its lowest level since March 17. The 24- member KBW Bank Index declined 1.3 percent to 73.55, a five-year low.

``Right now people are selling first and asking questions later when it comes not only to Lehman, but to the financials in general,'' Michael James, a managing director at Wedbush Morgan Securities in Los Angeles, said in an interview on Bloomberg Television.