Australian Market Report of October 22: Concerns over Financial Firms' Earnings

  Sydney, Australia, Oct 22, 2009 - (ABN Newswire) - US shares fell overnight led by Wells Fargo. A late sell-off in financial stocks was triggered after an analyst cut his investment rating on the company, saying the quality of its earnings was pretty poor. The Federal Reserve's latest beige book, showing weak consumer spending during late summer, also weighed down the market.  

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