Eye on Banks, Stocks Sink Early

Dow drops 30 points after bell
By Matt Cantor,  Newser User
Posted Feb 25, 2009 8:50 AM CST
Specialist Igor Lerner works on the floor of the New York Stock Exchange Tuesday, Feb. 24, 2009.   (AP Photo/Richard Drew)
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(Newser) – Stocks sank after the opening bell this morning, with traders’ eyes still on troubled banks, which face regulators’ stress tests starting today, the Wall Street Journal reports. The Dow quickly plunged 30 points; the S&P slipped 0.5% with a 2.2% drop in financials; and the Nasdaq tumbled 0.5%. It was the markets’ first chance to react to President Obama’s speech to Congress last night detailing his economic plan, MarketWatch notes.