New York - U.S. Stocks Drop, Led by Banks
New York - Stocks skidded Tuesday amid worries about more bank failures and the fact that the market may have gotten ahead of the recovery. Oil prices fell nearly 3 percent to settle below $69
The Dow Jones Industrial Average was down nearly 200 points, or nearly 2 percent. The S&P 500 and Nasdaq also fell more than 2 percent, pushing the S&P below 1,000.
The big buzz in the market today was about the possibility that another bank default may be coming, which sent bank stocks sharply lower.
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