Stocks slumped Friday after earnings reports from two big banks disappointed investors and a survey showed that consumers are becoming more pessimistic. The Dow Jones industrial average fell more than 190 points, and other major market indexes were also down more than 1 percent. Interest rates fell in the Treasury market as investors once again sought out the safety of government securities.
Stocks sink on weak consumer sentiment and bank earnings
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Rocket delivers $291M profit amid improved margins and MSR acquisitions
The Detroit-based lender reported a GAAP net income of $291 million from January to March, its highest profit level in two years.