KeyCorp shares fall on economic concerns

NEW YORK - Shares of KeyCorp tumbled Tuesday, in line with the broader market, as fresh concerns over the economy were stirred by two disappointing reports on inflation and housing. KeyCorp shares fell 56 cents, or 5.1 percent, to $10.59 in midday trading. Shares are down more than 50 percent for the year. Two government reports issued Tuesday proved the economy remains under stress. The Labor Department reported a bigger-than-expected jump in wholesale inflation, while the Commerce Department said July housing starts fell to an annual rate of 965,000 units. While the figure came in slightly above what analysts had predicted, it was the lowest level in more than 17 years. Investors continue to worry that the ongoing mess in the housing market will lead banks to report more losses tied to bad... [read full story]