Major bank stocks plunged in price amid a general market sell-off based on fears of rising interest rates. The Dow Jones industrial average fell 50 points before recovering some ground to finish the day at 3,697.64, down 35.77.
Bankers Trust New York Corp. slumped $2.25, to $77.125; Citicorp, $1.125, to $35.375; Norwest corp., 50 cents, to $25; Wachovia Corp., $1.375, to $36.125; and Barnett Banks Inc., $1.25, to $39.75.
Also Posting major declines were MBNA Corp., down $2, to $31.625; Huntington Bancshares, $1.875, to $22.875; Integra Corp., $1.675, to $46.625; and Wells Fargo & Co., $2.375, to $108.375.
