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NEW YORK - Shares of Merrill Lynch & Co. were among the hardest hit stocks in the financial sector Thursday as investors worried about the amount of bad debt that might still be on the books of financial companies.
| MER | 11.64 |  0 |
Shares of the world's largest brokerage firm fell $2.04, or 7.2 percent, to $26.29 shortly before the closing bell. The stock has traded in a 52-week range of $22 to $78.66.
The overall stock market fell sharply as investors worried about the prospects for the economy.
Merrill has been overhauling its operations and selling assets and raising capital through sales of stock to strengthen its balance sheet, which has been hurt by billions of dollars in losses related to soured mortgage debt and resulting tightness in the credit markets.
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