Banks, energy stocks bring markets down to end week
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Perhaps investors are getting tired of "less bad" economic news. Despite flat inflation figures that were in line with economists' forecasts and industrial output that fell less than expected, the Dow Jones industrial average fell 63 points
, or 0.75 percent, to close at 8,269. Financial and energy stocks weighed on markets as oil prices dropped and Federal Deposit Insurance Corp. Chairwoman Sheila Bair reportedly told Bloomberg TV's Al Hunt that the CEOs of troubled banks could be removed
Bair said in a statement that her comments on the show, to be aired this weekend, were taken out of context
. But that couldn't save bank shares. Bank of America (BAC
) fell 5.5 percent, the most of any of the DJIA's 30 component stocks.
For more on stocks making moves today, be sure to check out BloggingStocks' market wrap-up