Dow Falls 213 Points; Year's Gains Erased
Obama's regulations hurt financial stocks
By Nick McMaster,  Newser Staff
Posted Jan 21, 2010 3:24 PM CST
In this Jan. 30, 2009, file photo, a trader leans on a phone post on the floor of the New York Stock Exchange.   (AP Photo/Richard Drew, file)

(Newser) – JP Morgan Chase, Bank of America, and other financial stocks led a broad sell-off today after President Obama unveiled new proposals to regulate banks, the Wall Street Journal reports. The fall means the Dow is now in the red for 2010.

  • The Dow fell 213 points to close at 10,390.
  • The Nasdaq lost 26 points, closing at 2,266.
  • The S&P 500 dropped 22 points to settle at 1,116.

 

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