Stocks slid Monday morning. The Dow was down 370.60 at 8,458.44, the S&P 500 fell 42.37 to 853.87, and the Nasdaq slid 68.12 to 1,467.45. Financial stocks came up short Monday morning.
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Most bank stocks were in the red as there was no shortage of banking news. Bank of New York Mellon Corp. was down after a judge said that the Russian government's $22.5 billion lawsuit against it should be settled out of court. Russia sued the bank after its former vice president, Lucy Edwards,
alledgedly illegally aided in the transfer of $7 billion out of Russia in the late 1990s. Also, Goldman Sachs Group Inc. plans to sell three-year government-backed bonds in euros under the
U.S. guarantee program. There were reports that
Morgan Stanley may make acquisitions of retail banks. Meanwhile, Citigroup Inc. purchased a
Spanish highway business, and Robert Rubin is under fire after a New York Times
article suggested he helped lead the bank
"to the brink
of catastrophe." - Maria Woehr
Troubled Wall Street
Prices at 10:00 am EST |
| Name |
Price at
open |
Price
at 10:00 am |
Change |
Mkt cap |
| J.P. Morgan Chase & Co. |
30.69 |
29.64 |
-2.02 |
110.62B |
| Merrill Lynch & Co. |
12.52 |
12.13 |
-1.09 |
19.40B |
| Goldman Sachs Group Inc. |
75.8 |
72.24 |
-6.75 |
28.56B |
| Morgan Stanley |
14.23 |
13.32 |
-1.43 |
14.14B |
| Citigroup Inc. |
7.9 |
7.60 |
-0.69 |
41.41B |
| Fannie Mae |
1.08 |
1.12 |
-0.04 |
1.20B |
| Freddie Mac |
1.14 |
1.10 |
-0.08 |
711.87M |
| Bank of America Corp. |
15.59 |
15.00 |
-1.25 |
75.26B |
| Wachovia Corp. |
5.39 |
5.30 |
-0.32 |
11.45B |
| Wells Fargo & Co. |
28.04 |
27.32 |
-1.57 |
90.84B |
| American International Group Inc. |
1.96 |
1.89 |
-0.12 |
5.08B |
| Sovereign Bancorp Inc. |
2.36 |
2.32 |
-0.15 |
1.54B |
| National City Corp. |
1.92 |
1.89 |
-0.12 |
3.84B |
| Fifth Third Bancorp |
9.04 |
8.96 |
-0.60 |
5.17B |
| Capital One Financial Corp. |
32.96 |
31.83 |
-2.58 |
12.46B |
| SunTrust Banks Inc. |
30.43 |
28.91 |
-2.82 |
10.23B |
| U.S. Bancorp |
26.21 |
25.66 |
-1.32 |
45.02B |
| Regions Financial Corp. |
9.9 |
9.56 |
-0.63 |
6.61B |
| KeyCorp |
8.81 |
8.53 |
-0.85 |
4.22B |
| PNC Financial Services |
50.61 |
49.42 |
-3.35 |
17.20B |
| BB&T Corp. |
29.57 |
28.31 |
-1.66 |
15.64B |
| Bank of New York Mellon Corp. |
29.22 |
29.20 |
-1.01 |
33.50B |
| State Street Corp. |
40.4 |
39.93 |
-2.18 |
17.24B |
Source: The Deal |
