Bank issues were mixed in thin Election Day trading.
Program selling erased some of Monday's gains and dragged down the Dow by 9.73 points, to 3,252.48.
In late trading, J.P. Morgan & Co., which is included in the Dow index, bucked the trend and gained 75 cents, to $64.25. National City Corp., Cleveland, gained 75 cents to reach a 52-week high of $46.25. Bancorp Hawaii slipped 87.5 cents, to $43.875.
Among government-sponsored enterprises, which are sensitive to speculation about changes in government policy, the Student Loan Marketing Association was off $1, to $67.75. The Federal National Mortgage Association gained 50 cents to $68.625.
CalFed Inc. slipped 37.5 cents to a new low of $ 1.875 despite the thrift company's announcement that a committee of bondholders approved a plan to raise $150 million by swapping debt for equity.