NEW YORK (AP) - Investors
remain nervous about the outlook for financial firms ahead of
quarterly earnings reports. Shares of financial services companies
led the decline, including government-sponsored lenders Freddie Mac
and Fannie Mae. Brokerage giant Merrill Lynch also dropped, after
Fitch Ratings put its long-term credit default rating on watch for
a possible downgrade.
The Dow fell 236 points to 11,147.
The S&P 500 dropped 29 points to 1,244.
The Nasdaq composite lost shed than 2.5 percent of its value,
losing nearly 60 points to 2,234.
Declining issues led advancers by a 2 to 1 margin.
NYSE volume was nearly 5 billion shares. Nasdaq stock market
volume was more than 2.2 billion shares.
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