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U.S. STOCKS - Wall St extends slide on credit fears
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reuters india on 27 November, 2007 09:01:00
 
NEW YORK (Reuters) - U.S. stocks fell further on Monday, pushing the S&P 500 and
the Nasdaq down more than 1 percent, as investors worried that the spillover
from mortgage defaults and credit market losses will drag on the economy and
spur consumer caution this holiday season.
Financial services companies led the decline, with shares of Citigroup Inc, the
largest U.S. bank, sliding below $30 for the first time since October 2002. The
slide took the Nasdaq down more than 10 percent from its 52-week closing high on
Oct. 31.
The Dow Jones industrial average was down 129.74 points, or 1.0 percent, at
12,851.14. The Standard & Poor's 500 Index was down 19.46 points, or 1.35
percent, at 1,421.24. The Nasdaq Composite Index was down 33.35 points, or 1.28
percent, at 2,563.25.