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.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.