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July 9, 2008 11:24:05 AM CDT

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Stocks Down, Led by Financials

Posted Sep 24, 07 3:44 PM CDT in Business,  US    Editor's Choice

(Newser) – The stock market took a dip today after an IMF report predicted that credit markets may not “normalize" soon and will slow global economic growth. Financial and energy companies helped pull the Dow down 61.13 points to 13,759.06. Citigroup, Bank of America and JPMorgan Chase all fell, Bloomberg reports; Exxon Mobil, the world's biggest oil producer, led the sector to the loss column after crude prices dropped for the second day.

The Nasdaq sank 3.27 to 2,667.95 and the S&P lost 8.02 to close at 1517.73. Tech stocks held strong, MarketWatch adds, and the big winner may have been General Motors, whose fortunes remained largely unchanged even after the United Auto Workers announced a nationwide strike.

Source Bloomberg

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Rodrigo de Rato, Managing Director of the International Monetary Fund (IMF), gestures during a press conference in Sao Paulo, Wednesday, Aug. 22, 2007. (AP Photo/Andre Penner)   (Associated Press)
People pass the Citigroup Center in this March 26, 2007 file photo in New York. U.S. financial giant Citigroup Inc. is taking steps to list its shares on the Tokyo Stock Exchange as part of its efforts...   (Associated Press)
Fed Cuts Interest Rates For First Time In Four Years   (Getty Images)
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S&P 500  • Nasdaq  • Dow Jones  • General Motors  • Citigroup  • JPMorgan Chase  • Bank of America  • ExxonMobil  • IMF


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