U.S. Bank Stocks Slide on Concern Over Foreclosure Inquiry
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Bank of America Corp., the biggest U.S. lender, led financial stocks that slid in New York trading on concerns that reviews of home-foreclosure practices may fuel costs.
Bank of America fell 5.7 percent to $12.53 at 12:27 p.m. San Francisco-based Wells Fargo & Co. dropped 4.7 percent to $24.60. JPMorgan Chase & Co. declined 3.3 percent to $38.51 and Citigroup Inc., both based in New York, dropped 5.4 percent to $4.02. Charlotte, North Carolina-based Bank of America and JPMorgan were the worst-performing members of the 30-member Dow Jones Industrial Average today.