Poor day for banking stocks drags Wall Street down slightly

Posted on: May 18th, 2018 by ABC News No Comments

JaysonPhotography/iStock/Thinkstock(NEW YORK) — A mixed finish on Wall Street Friday as banking stocks fell enough to negate gains in other fields.

The Dow Jones Industrial Average gained 1.11 points to close at 24,715.09.

The Nasdaq dipped 28.13 from its open, finishing the day at 7,354.34, while the S&P 500 dropped 7.16 to end the session at 2,712.97.

Citigroup lost 2.2 percent, and J.P. Morgan Chase, Bank of America and Wells Fargo all finished lower as well. Also down Friday were chip makers like Intel, which fell 2.4, and Applied Materials. Those losses outweighed gains by industrial companies. Deere gained 5.7 percent after forecasting strong equipment sales for the current quarter.

The price of oil dipped slightly, with a barrel selling for $71.35 at the close.

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