Around the World's Markets

Click to follow
The Independent Online

US STOCKS fell, led by bank shares, after First Union Corp warned that its earnings would not meet analysts' expectations.

"Anytime you have an industry leader reporting a negative surprise, that has a ripple effect for the industry,'' said one analyst.

The Dow Jones dropped 124.35 points, or 1.3 per cent, to 9,200.23. The tech-laden Nasdaq index fell 25.93 points to 2,407.22, led by Microsoft and Intel, after hovering close to flat for most of the day. The Standard & Poor's 500 index fell 9.12 to 1,243.19.