Banks Fall; Dow Slides 122
But indices lock in first two-week winning streak in nearly a year
By Nick McMaster,  Newser Staff
Posted Mar 20, 2009 3:20 PM CDT
Employees of Barclays Capital work on the floor of the New York Stock Exchange.   (AP Photo)
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(Newser) – Stocks fell today but managed to lock in the first two consecutive weeks of gains since May 2008, the Wall Street Journal reports. Comments from FDIC chair Sheila Bair that she expects bank failures to drain her agency sank financials, with the broader market following suit. The Dow dropped 122.42 to close at 7,278.38. The Nasdaq fell 26.21, settling at 1,457.27, and the S&P 500 lost 15.50 to close at 768.54.

  • For the week, the Dow rose 0.7%, the Nasdaq gained 1.8%, and the S&P 500 added 1.5%.