The New York Times
Fri, January 22, 2010 -- 4:07 PM ET
Stocks Fall Sharply for Third Day; Dow Has Fallen About 5% Since Tuesday
Investors bid stocks down sharply on Friday for the third
straight day, prompted by concerns about President Obama's
proposal for tighter restrictions on banks.
The Dow Jones industrial average closed at 10,173.00, down
216.90 points or 2.09 percent for the day, in preliminary
figures. The index has now fallen about 5 percent since
Bankers, traders and investors were surprised on Thursday
when the president proposed prohibiting banks with federally
insured deposits from speculating heavily in financial
markets, and limiting further consolidation in the industry.
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