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Wall Street ends modestly lower; banks drop

    NEW YORK (Reuters) - Shares of U.S. banks slumped on Friday after JPMorgan Chase said it lost billions on bad trades, but the overall market ended only modestly lower, thanks to gains in technology shares.

    Based on the latest available data, the Dow Jones industrial average <.DJI> was down 34.44 points, or 0.27 percent, at 12,820.60 for the day. The Standard & Poor's 500 Index <.SPX> was down 4.60 points, or 0.34 percent, at 1,353.39. The Nasdaq Composite Index <.IXIC> was up 0.18 points, or 0.01 percent, at 2,933.82.

    (Reporting by Caroline Valetkevitch; Editing by Leslie Adler)

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