Summary Box: Stocks slide on weaker retail outlooks; Fears about financial overhaul hit banks

By AP
Thursday, June 24, 2010

Summary Box: Retailers, banks drag down stocks

FURTHER DROP: The benchmark Standard & Poor’s 500 index fell for a fourth straight day and the Dow Jones industrials lost 146 points on concerns about the pace of the recovery.

RETAIL CUTS: Downbeat forecasts from Nike and Bed Bath & Beyond brought questions about how the economy will recover without stronger retail sales.

FINE PRINT: Bank stocks slid on concerns that the financial overhaul bill nearing completion in Congress will be tougher than expected. Banks lobbied against a proposal to make the industry cover costs to dismantle mortgage giants Fannie Mae and Freddie Mac.

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