Wall Street roundup
A THIRD straight quarterly loss at Morgan Stanley, rising credit losses at Wells Fargo and a sharp drop in profits at Bank of New York Mellon hit the banking sector.
Mellon lost more than 6 per cent and Wells Fargo sank 3 per cent, while Morgan Stanley dipped 0.2 per cent. By mid-session the Dow Jones was down 3.7 points to 8912.