Summary The stock market is ending lower following weaker earnings from banks.
NEW YORK: (AP) - The stock market is ending lower following weaker earnings from banks.
Bank of America fell 5 percent after it reported an 11 percent slide in fourth-quarter net income, hurt by a slowdown in trading revenue.
The Dow Jones industrial average fell 106 points, or 0.6 percent, to close at 17,320 Thursday.
The Standard & Poor s 500 index slid 18 points, or nearly 1 percent, to 1,992. The Nasdaq composite dropped 68 points, or 1.5 percent, to 4,570.
The Swiss franc soared after the country s central bank abandoned an increasingly expensive policy to limit the currency s rise.
Bond prices jumped. The yield on the 10-year Treasury note dropped to 1.74 percent from 1.86 percent.
