Stocks slide on talk of Citigroup write-down
The Dow Jones industrial average closed down 217.86, or 1.65%, at 12,958.93
U.S. equities fell sharply today on renewed concern about mortgage-related securities as Goldman Sachs estimated that Citigroup, the largest U.S. bank, may have to write down $15 billion of its $43 billion exposure to collateralized debt obligations.
The Dow Jones industrial average closed down 217.86, or 1.65%, at 12,958.93; the S&P 500 fell 25.47, or 1.75%, ending at 1,433.27; and the Nasdaq composite closed down 43.86, or 1.66%, at 2,593.38.
All numbers are preliminary.
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