Wall Street falters as bank stocks weigh

Among bank shares, JPMorgan was the Dow's biggest weight, down more than 5 percent. The Federal Reserve's long-awaited program to resuscitate consumer and small business lending, known as the Term Asset-Backed Securities Loan Facility (TALF), got off to a stuttering start on Thursday as investors largely stayed away.

The Dow Jones industrial average was off 5.66 points, or 0.08 percent, to 7,395.14. The Standard & Poor's 500 Index slipped 4.04 points, or 0.52 percent, to 780.00. The Nasdaq Composite Index was down 4.57 points, or 0.31 percent, at 1,478.91.

(Reporting by Leah Schnurr, Editing by Chizu Nomiyama)