A late plunge in the overall stock market canceled earlier price gains for many banking stocks. The late selloff caused a 44.03-point drop in the Dow Jones industrial average to 3,295.17.

BankAmerica Corp. was off 87.5 cents, to $43.75; Banc One Corp. was down 62.5 cents to $46.375; PNC Financial Corp. was off 50 cents to $53.25; and Norwest Corp. was off $1, to $37.50.

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