Markets
Banks drag US stocks down
NEW YORK : Falling bank shares dragged US stock markets down Monday, with worries their margins would be under pressu
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NEW YORK: Falling bank shares dragged US stock markets down Monday, with worries their margins would be under pressure from the slow economy.
The Dow Jones Industrial Average lost 54.38 points (0.45 percent) to 12,096.88 in closing trade.
The tech-focused Nasdaq slid 30.22 (1.11 percent) to 2,702.56, while the broad-based S&P 500 lost 13.99 (1.08 percent) to 1,286.17.
Financial shares tumbled with Bank of America dropping 4.0 percent and Citigroup 4.5 percent.
Tech stocks were also pulled down with eBay dropping 2.3 percent and Apple, which launched its new online iCloud service Monday, sliding 1.5 percent.
Copyright AFP (Agence France-Presse), 2011
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