Jefferies Group Plunging Almost 8% on MF Worries

Jefferies Group, Inc. JEF shares are plunging today, down almost 8%, after the company said it had less than $9 million worth of exposure to MF Global MF, which filed for bankruptcy protection today. It does not appear that investors believe that Jefferies has to say in terms of its exposure, and are punishing shares today. At last check, shares were off $1.14 to $13.58, a loss of 7.74% on 3.3 million shares. The average daily volume is just over 3 million shares.