Morgan Stanley is getting killed today, falling more than 9% amid all kinds of rumours, talk about its CDS curve, European exposure, etc.
It’s fairly stomach turning, and reminiscent of 2008.
What’s really interesting is taking a step back. Not only are we looking at a 2008-era close for the stock, we’re talking about a decline of some 87% from its 2000 high. Really, it’s just a shadow of its former self.