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MF Global Feels The Heat

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Shares of MF Global Ltd dropped sharply in trading today, reaching a new low. The stock is at $7.26, down $10.09. The stock opened lower and continued to slide for the opening 45 minutes. Trading volume is way up.
Officially, there’s no news with respect to MF Global. Unofficially, rumors are circulating that a major European investment bank is rumored to have shut off MF Global with respect to trades in which MF Global acts as principal. Nothing has been confirmed.