Wall Street Pulls Back As Troubled Bank’s Downgrade Weakens Financial Stocks
September 27, 2010 · Posted in Business finance
Windsor Genova – AHN News News Writer
New York, NY, United States (AHN) – The specter of European sovereign debt returned to Wall Street as Moody’s downgrade of troubled Anglo Irish Bank hit financial stocks and sent the benchmarks falling.
The Dow Jones Industrial Average lost 48 points or 0.4 percent to close at 10,812. Bank of America led 24 decliners.
The Standard & Poor’s 500 Index shed 6.51 points or 0.6 percent to end at 1,142. The Nasdaq Composite Index shed 11 points of 0.5 percent to end at 2,370.
Crude oil for November delivery rose 3 cents and settled at $76.52 per barrel.
Gold futures for December delivery settled at $1,298.60 an ounce.
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