The Dow Jones Industrial Average plummeted nearly 500 points to under 10,000 and then climbed back to 9,900. The markets haven't seen this sort of low since March 1999,
according to CNBC. The banks are taking a particularly harsh beating. Wachovia Corp. shares were halted around noon Monday
after Citigroup Inc. announced it was filing a complaint, citing breach of contract, after Wachovia agreed to be acquired by Wells Fargo & Co. Citigroup is seeking $60 billion in damages, according to the release, and has a court hearing set for Tuesday.
- Maria Woehr
Troubled Wall Street
Prices at 12:30 pm EDT |
| Name |
Price at
open |
Price
at 12:30pm |
Change |
Mkt cap |
| J.P. Morgan Chase & Co. |
43.49 |
43.47 |
-2.40 |
149.13B |
| Merrill Lynch & Co. |
25.09 |
25.20 |
-1.46 |
38.45B |
| Goldman Sachs Group Inc. |
122.10 |
119.57 |
-8.44 |
47.01B |
| Morgan Stanley |
22.49 |
21.75 |
-2.17 |
23.81B |
| Citigroup Inc. |
17.23 |
16.60 |
-1.76 |
90.88B |
| Fannie Mae |
1.12 |
1.07 |
-0.27 |
1.16B |
| Freddie Mac |
1.26 |
1.23 |
-0.26 |
789.36M |
| Bank of America Corp. |
31.78 |
32.81 |
-1.68 |
149.39B |
| Wachovia Corp. |
5.74 |
5.60 |
-0.61 |
12.39B |
| Wells Fargo & Co. |
33.30 |
33.52 |
-1.04 |
111.05B |
| American International Group Inc. |
3.43 |
3.88 |
0.01 |
9.87B |
Source: The Deal |
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