NEW YORK—Shares of investment banks fell early Friday morning as insurer American International Group Inc. said it lost $7.81 billion during the first quarter because of continued weakness in the credit markets.
Broader markets also declined as oil prices continued their record climb, pushing many stocks lower.
How shares of major investment banks were performing early Friday:
Bear Stearns Cos. fell 4 cents to $10.12.
Goldman Sachs Group Inc. fell $1.42 to $186.30.
Lehman Brothers Holdings Inc. fell 59 cents to $42.34.
Merrill Lynch & Co. fell 34 cents to $47.60.
Morgan Stanley fell 87 cents to $45.61.
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