US stocks end lower as financials give up early gains; DJ down about 203 points

Business Materials 28 October 2008 00:28 (UTC +04:00)

Wall Street has ended still another highly volatile session with a big loss as the market's stubborn worries about a protracted downturn in the economy and tight credit markets erased gains in the financial sector, the Associated Press reported.

The Street's back-and-forth trading was typical for a turbulent market that has seen many recent rallies evaporate. The market's moves came on relatively light volume.

The Dow Jones industrial average is ending down about 203 points at the 8,175 level, after alternating between losses and gains throughout the day. Banks got a boost earlier in the session after the Treasury said it signed agreements with nine financial institutions to buy stock in the companies this week.

An upbeat home sales report also gave the market support until late afternoon.