Many Wall Street analysts reduced their ratings and estimates for Bank of America Corp.'s stock Thursday, a day after it said credit quality problems would be much worse than expected.

Indications throughout the market were that the problem is not isolated in the Charlotte, N.C., banking giant. The American Banker index of the top 225 banks rose 1.08% Thursday, and its index of the top 50 banks increased by 0.93%. The Dow Jones industrial average fell 0.43%, and the Nasdaq composite index ended the day down 1.57%.

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