Dow Down 148, Up for Week

Indices manage to hold on to weekly gains despite Friday dip

By Nick McMaster, Newser Staff

Posted Mar 27, 2009 3:22 PM CDT

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Dow Down 148, Up for Week — Australian Prime Minister Kevin Rudd, left, and New York Stock Exchange CEO Duncan Niederauer, tour the floor of the exchange Friday, March 27, 2009. (AP Photo/Mark Lennihan)

Stocks fell today, though not enough to offset broad-based weekly gains, the Wall Street Journal reports. Financials dropped, in part due to comments by JP Morgan Chase CEO James Dimon, who said the bank had more trouble in March than in the first 2 months of the year. JP Morgan and Citigroup both dropped 5%. The Dow lost 148.70 points to close at 7,776.18. The Nasdaq fell 41.80 points, settling at 1,545.20, and the S&P 500 dropped 16.92 points, closing at 815.94.

For the week, the Dow rose 6.8%, the Nasdaq gained 6%, and the S&P 500 added 6.2%.

(More Dow Jones stories.)

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