Charlie Munger, vice chairman of Berkshire Hathaway, told the Financial Times that the U.S. commercial property market is in trouble. “It’s not nearly as bad as it was in 2008,” he said. “But trouble happens to banking just like trouble happens everywhere else.”
Stocks were mixed at the open but Wall Street was heading for a losing week as investors digested the hints that the Federal Reserve could raise rates before the end of the year.
