American International Group's stock price sank today after Credit Suisse upped its loss estimates for the firm by billions. On Friday a rating firm took negative action against the giant insurer.
AIG shares, which sold for close to $70 12 months ago, were at $18.99 in late afternoon trading on the New York Stock Exchange.
Fitch Ratings late Friday said it had updated its assessment of American International Group and placed its ratings of the insurer and its subsidiaries on Rating Watch Negative.
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