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发表于 2009-10-21 03:22 PM
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WFc downgraded to sell target $25
Stocks turn lower as note on banks spooks traders
Stock market turns lower as analyst note about Wells Fargo hurts financials; Dow falls 92
By Tim Paradis, AP Business Writer
On 4:12 pm EDT, Wednesday October 21, 2009
Buzz up! 0 Print.Companies:Wal-Mart Stores Inc.
NEW YORK (AP) -- Stocks are ending lower after a major reversal as financial stocks pull the market lower.
Traders say a downbeat note from influential banking analyst Richard Bove raised concerns about Wells Fargo and sent investors rushing to dump financial stocks.
Oil has also touched a new high for the year and Wal-Mart Stores Inc. says it is stepping up its price-cutting, a sign consumers are still struggling.
The Dow is down 92 at 9,949. The Standard & Poor's 500 index is down 10 at 1,081. The Nasdaq composite index is down 13 at 2,151.
Two stocks fell for every one that rose on the New York Stock Exchange. Volume came to 1.4 billion shares, up from 1.1 billion Tuesday. |
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