Wachovia shares fall to lowest level since 1992
Wachovia shares on Friday fell as much as 10.2 percent to their lowest level since 1992 on concern the fourth-largest US bank might cut its dividend a second time, and after another mortgage lender with heavy exposure to California reported a jump in nonperforming assets.
Wachovia is rumoured to be in talks with rivals to be taken over following a slump in its shares.