NEW YORK (AP) - Commercial bank stocks tumbled Friday morning after the
government said the unemployment rate rose sharply last month, and oil prices
resumed their upward rally.
Meanwhile, the Wall Street Journal reported National City Corp. has entered
into a "memorandum of understanding" with the Treasury Department's Office of
the Comptroller of the Currency, facing increased scrutiny as it tries to
recover from the credit crisis.
Here's how some shares of commercial banks are trading:
National City, down 27 cents, or 5.1 percent, to $5.08.
Wachovia Corp., down $1.01, or 4.7 percent, to $20.58.
First Horizon National Corp., down 16 cents to $9.64.
Zions Bancorp., down $1.55, or 3.7 percent, to $40.48.
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