Dow Falls 119 on Citi Fears

By Harry Kimball,  Newser Staff
Posted Feb 27, 2009 3:23 PM CST
Dow Falls 119 on Citi Fears
Federal Reserve Chairman Ben Bernanke appears on a television screen on the trading floor of the New York Stock Exchange.   (AP Photo)

The government’s move to downgrade its shares in Citigroup pushed the Dow down today, Bloomberg reports. Not helping was news that GDP contracted 6.2% in the last quarter, and the end to a weeklong rally by other big banks. The Dow fell 119.15, to 7,062.93; the Nasdaq was off 13.63, to 1,377.84; and the S&P 500 lost 17.74, ending at 735.09.

  • For the week, the Dow lost 4.1%; the S&P  was off 4.5%; and the Nasdaq hemorrhaged 4.4%, MarketWatch adds.
(More New York Stock Exchange stories.)

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