WRAPUP 1-US credit market sells off on pulled financings

Newswire

By Dena Aubin NEW YORK, July 26 (Reuters) - A mounting backlog of failed buyout financings spurred a sharp sell-off in the U.S. credit markets on Thursday, intensifying concern that tighter credit conditions would damage the economy. Spooked by pulled financings for the buyouts of DaimlerChrysler AG's Chrysler Corp. and Alliance Boots [AB.UL], investors scrambled out of riskier bonds, with the brokerage sector and junk bonds taking the worst hits, traders said. In the junk bond market, ...

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