Dow Crumbles, Below 8000 Again

By: Avi Thursday, January 22, 2009 1:34 PM

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Dow tumbled 262, decliners 6-1 over advancers & NAZ fell 60.

On more dreary banking news, S&P 500 FINANCIALS INDEX is heading back down to the 108 low set 2 days ago.

Value
113.95

Change
-10.21

% Change
-8.2%

More banks results are coming in, and their reports are just plain depressing. In the link below, M&T Bank Corp (MTB) posted higher earnings while BB&T (BBT) & Comerica (CMA) had lower profits which at least matched lowered estimates. The 4 other banks just had ugly news.

U.S. bank results plummet as credit problems soar- AP

Other averages are weak. REITs are hurting but the Aleiran MLP Index is down "only" 3 to 190. The 190 floor is providing support.

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