Stocks end lower, hammered by bank woes

2/06/2008 - 21:10

NEW YORK (Reuters) - U.S. stocks ended lower on Monday as financial shares slid on fears of more fallout from the mortgage crisis after Standard & Poor's cut debt ratings of three big securities companies and Wachovia , the fourth-largest U.S. bank, ousted its chief executive.

Based on the latest available data, the Dow Jones industrial average <.DJI> ended down 133.61 points, or 1.06 percent, at 12,504.71. The Standard & Poor's 500 Index <.SPX> slid 14.69 points, or 1.05 percent, closing at 1,385.69.

The Nasdaq Composite Index <.IXIC> slumped 31.13 points, or 1.23 percent, to end at 2,491.53.

(Reporting by Ellis Mnyandu; Editing by Kenneth Barry)

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