Morgan Stanley reported a $2.2 billion fourth-quarter loss, wider than the most pessimistic analyst's estimate, as it unexpectedly wrote down the value of fixed-income businesses and lost money in all three of its main divisions.

The loss of $2.24 a share for the three months ended Nov. 30 compared to a $3.59 billion loss, or $3.61 a share, the year earlier, the New York-based company said in a statement Wednesday. The average estimate of 16 analysts surveyed by Bloomberg was for a 34-cent loss; no estimate exceeded $1.15. The shares fell as much as 7.8%.

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