Banks Push Dow Down 290, Below 8,000

Stocks saw deep declines today as uneasiness over banking spilled into the broader market, the Wall Street Journal reports. Bank of America slid 22% on word of growing losses in its credit-card unit. Goldman Sachs, Citigroup and JPMorgan Chase also fell on reports of a Treasury move that may dilute shareholder value. The Dow lost 289.60 to close at 7,841.73. The Nasdaq shed 64.86, to 1,608.21, and the S&P 500 lost 37.21 to 832.39. (More Dow Jones stories.)