


Stocks plunge for a third straight Friday
By RICK BABSON
The Kansas City Star
Stocks tumbled sharply for the third Friday in a row on heightened fears about the viability of the nation’s subprime lending industry, including Kansas City’s NovaStar Financial Inc.
The Dow Jones industrial average fell more than 280 points after Bear Stearns Cos. chief financial officer Sam Molinaro said the woes of the credit market are the worst he’s experienced.
The warning came the same day that Standard & Poor’s Ratings Services lowered its credit outlook on Bear Stearns to negative from stable.
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