UBS Declines on Report `Fire Sale' May Lead to More Writedowns

Bloomberg
6 Mar 2008
Elena Logutenkova and Sarah Jones

March 6 (Bloomberg) -- UBS AG fell to a five-year low in Swiss trading after JPMorgan Chase & Co. analysts said it probably sold 25 billion francs ($24 billion) of mortgage-backed securities in a ``fire sale'' and may have more writedowns.

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