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WEDNESDAY, NOVEMBER 25, 2009
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 MARKETS 
3

Dow Falls 104 on Oil, Banks

Bank of America will have trouble squaring bailout repayment with new regulatory requirements

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(Newser) – Stocks saw big losses today as a drop in oil prices depressed the energy sector and news that Bank of America will have trouble repaying the federal government led to losses for financials, the Wall Street Journal reports.

  • The Dow fell 104.22 points to close at 9,867.96.
  • The Nasdaq lost 12.62, closing at 2,141.85.
  • The S&P 500 dropped 12.66 to settle at 1,066.94.

A pair of traders work on the floor of the New York Stock Exchange near the close of trading Wednesday, Oct. 21, 2009.
A pair of traders work on the floor of the New York Stock Exchange near the close of trading Wednesday, Oct. 21, 2009.   (AP Photo/Richard Drew)
Specialists Michael Gagliano, left, and Jeffrey Reymann work at a post on the floor of the New York Stock Exchange Tuesday, Oct. 20, 2009.
Specialists Michael Gagliano, left, and Jeffrey Reymann work at a post on the floor of the New York Stock Exchange Tuesday, Oct. 20, 2009.   (AP Photo/Richard Drew)
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3 comments
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Netstorm2k9
Oct 26, 09 3:37 PM CDT
Rabble Rabble Rabble! Reply
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freethemall
Oct 26, 09 7:44 PM CDT
I don't get why lower oil prices would depress the stock market. The energy sector yes; but doesn't lower oil prices translate to lower energy prices, which, it seems to be, should be good news to business in general. What am I missing here? Reply
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CaptainZ64
Oct 26, 09 8:55 PM CDT
Oil prices have been dropping yet gas prices are going up and Refineries are operating at only 75% capacity. Doesn't this sound like manipulating the market? Where are all the folks that were yelling for Bush's head when this happened under his watch? Oh never mind it's ok under Obama's watch. Reply
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