Stocks Down, Led by Financials

Financial and energy companies led the way
By Jonas Oransky,  Newser Staff
Posted Sep 24, 2007 3:44 PM CDT
Stocks Down, Led by Financials
A trader (L) talks on his phone after the opening bell on the...   (Getty Images)

The stock market took a dip today after an IMF report predicted that credit markets may not “normalize" soon and will slow global economic growth. Financial and energy companies helped pull the Dow down 61.13 points to 13,759.06. Citigroup, Bank of America and JPMorgan Chase all fell, Bloomberg reports; Exxon Mobil, the world's biggest oil producer, led the sector to the loss column after crude prices dropped for the second day.

The Nasdaq sank 3.27 to 2,667.95 and the S&P lost 8.02 to close at 1517.73. Tech stocks held strong, MarketWatch adds, and the big winner may have been General Motors, whose fortunes remained largely unchanged even after the United Auto Workers announced a nationwide strike. (Read more Dow Jones stories.)

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