US market indices slid

US market indices slid
# 24 December 2008 07:52 (UTC +04:00)
Baku. Vahab Rzayev - APA-Economics. By close, the Dow Jones industrial average fell 100.28 points or 1.18 percent to 8,419.49. The Standard & Poor’s 500 fell 8.47 or 0.97 percent to 863.16. The Nasdaq composite index dropped 10.81 or 0.71 percent to 1,521.54.
Declining issues led advancers by 3 to 2 on the New York Stock Exchange, where volume came to 984.54 million shares.
Credit card lender American Express Co. and commercial financial firm CIT Group Inc. said Tuesday they each received preliminary approval to obtain billions in funding from the government’s $700 billion bank investment program.
American Express fell 46 cents, or 2.5 percent, to $17.96, and CIT Group rose 8 cents to $4.26.
PNC Financial Services Group Inc. and National City Corp. shareholders approved PNC’s acquisition of the Cleveland-based bank. The deal is expected to be complete by late 2009.
Britain’s FTSE 100 rose 0.16 percent, Germany’s DAX index fell 0.21 percent, and France’s CAC-40 fell 0.73 percent.
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