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The Honolulu Advertiser
Posted on: Thursday, June 18, 2009

Financial stocks stumble, but consumer prices offer optimism


Associated Press

NEW YORK — Stocks mostly fell yesterday, though health shares gained as the Senate made tentative steps on a healthcare overhaul plan.

Financial stocks saw some of the biggest losses after Standard & Poor's cut its ratings and revised outlooks on big banks. S&P cited concerns that the financial industry will remain volatile and that banks are expected to face tighter regulatory oversight.

In a bright spot, consumer prices rose less than forecast in May. Investors have been worrying that rising prices would threaten a recovery in the economy by curbing demand.