Markets got off to a rough start Thursday. The Dow fell 115.33 points to 8,260.12, the
S&P 500 fell 16.45 points to 857.64, and the
Nasdaq slid 28.77 points to 1,529.57. Financial stocks were down on reports that the government could
pump another $1 trillion to $2 trillion into the banking system.
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J.P. Morgan Chase & Co.'s stock was down even though the bank announced it had barely any
potential losses related to Bernard L. Madoff. Meanwhile, J.P. Morgan's CEO Jamie Dimon said that the bank has
"plenty of capital" and is opposed to nationalizing banks. Goldman Sachs Group Inc.'s stock dropped as it supposedly
offers a 10-year note without a guarantee from the U.S. government.
Morgan Stanley's stock is also sliding. Chief financial officer Colm Kelleher said that the institutional securities unit will
remain a core business. Bank of New York Mellon Corp.'s stock is down. The bank's CEO Robert Kelly said his corporation wants to play a
role in a proposed
government-created "good bank/bad bank." - Maria Woehr
Troubled Wall Street
Prices at 12:00pm EST |
| Name |
Price at
open |
Price
at 12:00pm |
Change |
Mkt cap |
| J.P. Morgan Chase & Co. |
26.74 |
26.67 |
-0.99 |
99553.78 |
| Goldman Sachs Group Inc. |
85.13 |
84.60 |
-3.10 |
39066.96 |
| Morgan Stanley |
21.75 |
21.68 |
-1.32 |
22705.72 |
| Citigroup Inc. |
3.99 |
4.03 |
-0.17 |
21963.90 |
| Fannie Mae |
0.645 |
0.62 |
-0.04 |
663.91 |
| Freddie Mac |
0.65 |
0.62 |
-0.04 |
401.24 |
| Bank of America Corp. |
6.96 |
7.03 |
-0.36 |
44939.62 |
| Wells Fargo & Co. |
19.83 |
20.11 |
-1.08 |
66870.66 |
| American International Group Inc. |
1.36 |
1.31 |
-0.10 |
3523.82 |
| Sovereign Bancorp Inc. |
2.56 |
2.55 |
-0.10 |
1693.05 |
| Fifth Third Bancorp |
3.4 |
3.08 |
-0.48 |
1778.35 |
| Capital One Financial Corp. |
19.43 |
18.27 |
-2.03 |
7110.68 |
| SunTrust Banks Inc. |
14.21 |
13.92 |
-1.23 |
4934.85 |
| U.S. Bancorp |
14.73 |
15.39 |
0.10 |
27009.45 |
| Regions Financial Corp. |
4.49 |
4.22 |
-0.34 |
2917.56 |
| KeyCorp |
8.49 |
8.32 |
-0.41 |
4118.42 |
| PNC Financial Services |
36.08 |
35.41 |
-1.93 |
12327.69 |
| BB&T Corp. |
21.7 |
21.91 |
-0.64 |
12253.12 |
| Bank of New York Mellon Corp. |
27.06 |
27.32 |
-0.74 |
31376.13 |
| State Street Corp. |
24.51 |
24.89 |
-0.88 |
10741.47 |
Source: The Deal |
