Experts muted on end of talks

WASHINGTON: CIT Group Inc's inability to get emergency government funding drew a muted reaction from investors, suggesting the commercial lender's possible failure won't have widespread economic consequences.

The muted response to CIT's woes suggests investors are more focused on signs the slump may be easing, said Paul Baiocchi, market strategist at Delta Global Advisors in San Francisco.

"The market may simply scoff at this news," Baiocchi said. "We're seeing more optimism with the earnings outlook this quarter, so that could outweigh CIT's problems."