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Despite renewed government efforts to prop up ailing banks, financial stocks slumped Friday and caused the broader market to erase an early round of gains.
The Dow Jones Industrial Average was up nearly 130 points at its morning high but recently slipped 15 points, trading 0.2%, at 8197.59, hurt by heavy declines in most of its financial components. Citigroup was the only gainer, up 0.5% after the government moved to back $400 billion of its assets.
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The Dow Jones Industrial Average was up nearly 130 points at its morning high but recently slipped 15 points, trading 0.2%, at 8197.59, hurt by heavy declines in most of its financial components. Citigroup was the only gainer, up 0.5% after the government moved to back $400 billion of its assets.
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