Dow Plunges 186, Biggest Fall in 2 Months

Financials lead broad selloff
By Nick McMaster,  Newser Staff
Posted Sep 1, 2009 3:16 PM CDT
Specialist Donald Civitanova, center, conducts trading on the floor of the New York Stock Exchange Thursday, July 16, 2009.   (AP Photo/Richard Drew)
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(Newser) – Financials led stocks in a steep sell-off today that saw the Dow’s biggest decline in 2 months, the Wall Street Journal reports. AIG fell 20.9% on an analyst’s report that without government support, it would be worth a negative $6.4 billion. Fannie Mae, Freddie Mac, Citigroup, and Bank of America all fell as well, in what could be the beginning of a steep correction to the summer’s rally. The Dow fell 186 points to settle at 9,311. The Nasdaq lost 40 points, closing at 1,969, and the S&P 500 dropped 23 points to 998.