US stocks end down

Posted by 7Star Saturday, January 23, 2010

US stocks suffered their worst one-day percentage drop since October on Thursday as US President Barack Obama proposed tough restrictions on banks that would squeeze profits. Major banks slid, with Goldman Sachs falling 4.1 percent despite posting stronger-than-expected fourth-quarter results, and J.P. Morgan Chase & Co shed 6.6 percent, after Obama proposed limiting how banks invest their own money.

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