JP Morgan Index Nigeria widens bond spreads after expulsion

The stock market fell for a second day, down 2.62 percent in early trades

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James Dimon,  JP Morgan CEO play

James Dimon,  JP Morgan CEO

(cbsnews)
A view of the exterior of the JP Morgan Chase & Co. Corporate headquarters in the Manhattan borough of New York City, May 20, 2015. REUTERS/Mike Segar play A view of the exterior of the JP Morgan Chase & Co. Corporate headquarters in the Manhattan borough of New York City, May 20, 2015. REUTERS/Mike Segar
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In a separate development, the central bank on Thursday reduced the time limit for funding currency purchases to 24 hours from 48 hours to stem a surge in the demand for the dollars, dealers told Reuters.

READ: JP Morgan to remove Nigeria from index

The stock market fell for a second day, down 2.62 percent in early trades as foreign investors, panicked by the bond expulsion, sold shares to exit Nigeria.

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