Banks Push Dow Down 290, Below 8,000

Dow falls 289 on financial uncertainty
By Nick McMaster,  Newser Staff
Posted Apr 20, 2009 3:25 PM CDT
Traders work on the floor of the New York Stock Exchange today.   (AP Photo)
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(Newser) – Stocks saw deep declines today as uneasiness over banking spilled into the broader market, the Wall Street Journal reports. Bank of America slid 22% on word of growing losses in its credit-card unit. Goldman Sachs, Citigroup and JPMorgan Chase also fell on reports of a Treasury move that may dilute shareholder value. The Dow lost 289.60 to close at 7,841.73. The Nasdaq shed 64.86, to 1,608.21, and the S&P 500 lost 37.21 to 832.39.