HSBC Shares Slide About 7% on Deposit Pressures
HSBC’s third-quarter earnings showed it paid more to attract customer deposits, while wealth-management customers remained on the sidelines.
By Margot PatrickHSBC stock slid about 7% today, after third-quarter earnings showed it had to pay more to attract customer deposits and that wealth management customers were sitting on the sidelines.Investors had hoped that HSBC's latest round of cost cuts might free up capital for bigger share bu…