Tech shares briefly lifts Nasdaq, offsets financials
News the U.S. government was taking a large common equity stake in embattled lender Citigroup sowed more uncertainty over the fate of major banks. The KBW Bank index fell 5.4 percent.
The Dow Jones industrial average dropped 95.49 points, or 1.33 percent, to 7,086.59. The Standard & Poor's 500 Index fell 12.71 points, or 1.69 percent, to 740.12. The Nasdaq Composite Index shed 5.55 points, or 0.40 percent, to 1,385.92.
(Reporting by Chuck Mikolajczak)