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Morgan Stanley's Q3 profit down 42% as trading revenue falls
Add BT as a preferred sourcePublished Mon, Oct 19, 2015 · 09:50 PM
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New York
WALL Street bank Morgan Stanley's profit slumped for the second straight quarter as investors fled the bond, currency and commodity markets amid uncertainty about the timing of a US interest rate hike and concerns about China's cooling economy.
Morgan Stanley, the last of the big US banks to release third-quarter earnings, said on Monday that its trading revenue fell 17.2 per cent to US$2.03 billion in the period, contributing to a 42.4 per cent drop in profit attributable to shareholders.
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