Investors also reacted to disappointing results from American Express Co., Apple Inc., and Texas Instruments Inc.
The Dow Jones industrials fell 66 points to the 11,400 level.
Stocks Lower on Earnings
NEW YORK (AP) - July 22, 2008
Wachovia, the nation's fourth-largest bank, reported an $8.86
billion loss because of charges and reserves for bad mortgage
loans. The report is especially sobering for investors who last
week sent stocks soaring on better-than-estimated results from
other major financial companies.
