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Sunday, November 8, 
8:40 am

Bank Watch: Citi falls below $5 a share

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Stocks dove Wednesday. The Dow dropped 248.41 points to 8,200.14. The S&P 500 sunk 29.17 points to 842.62, and the Nasdaq fell 56.82 points to 1,489.64. Financial stocks ended the day in the negative.

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According to CNBC, hundreds of banks could fail this year, compared to the 40 banks that failed in 2008. A bank that seems in a questionable position right now is Citigroup Inc. Citigroup's stock dropped below $5 a share, and the bank may soon restructure its board along with its operations, according to CNBC. Meanwhile, Wells Fargo & Co. announce that Phoenix will remain a regional hub following its acquisition of the embattled Wachovia Corp. - Maria Woehr



 
Troubled Wall Street
Prices at approximately 4:30 pm EST
Name Price at
open
Price
at 4:30 pm
Change Mkt cap
J.P. Morgan Chase & Co. 25.59 25.91 -0.44 96705.38
Goldman Sachs Group Inc. 75.88 75.69 -2.23 29930.99
Morgan Stanley 18.25 17.19 -1.67 18003.29
Citigroup Inc. 5.02 4.53 -1.37 24686.42
Fannie Mae 0.73 0.69 -0.05 742.58
Freddie Mac 0.7285 0.70 -0.04 453.01
Bank of America Corp. 10.09 10.20 -0.45 51179.31
Wells Fargo & Co. 23.36 23.07 -1.31 76713.38
American International Group Inc. 1.54 1.50 -0.09 4034.91
Sovereign Bancorp Inc. 2.54 2.45 -0.25 1626.66
Fifth Third Bancorp 6.61 6.27 -0.52 3620.53
Capital One Financial Corp. 26.93 25.58 -2.36 10018.62
SunTrust Banks Inc. 23.21 23.12 -0.95 8187.01
U.S. Bancorp 21.47 21.07 -1.12 36968.96
Regions Financial Corp. 6.92 6.85 -0.36 4739.90
KeyCorp 7.05 6.93 -0.47 3430.40
PNC Financial Services 44.71 43.42 -1.94 15116.31
BB&T Corp. 21.66 21.78 -0.57 12033.18
Bank of New York Mellon Corp. 24.37 23.38 -1.88 26830.11
State Street Corp. 37.29 37.09 -1.77 16021.14
Source: The Deal




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