Wachovia drags on banks, cancels out energy rise

14/04/2008 - 21:07

NEW YORK (Reuters) - Stocks edged lower on Monday after an unexpected quarterly loss from Wachovia Corp dragged down the financial sector, overshadowing strong gains in energy companies as oil closed at a record.

The Dow Jones industrial average <.DJI> fell 23.36 points, or 0.19 percent, to end unofficially at 12,302.06. The Standard & Poor's 500 Index <.SPX> slipped 4.51 points, or 0.34 percent, to finish unofficially at 1,328.32. The Nasdaq Composite Index <.IXIC> sank 14.42 points, or 0.63 percent, to close unofficially at 2,275.82.

(Reporting by Chris Sanders; Editing by Jan Paschal)

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