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Bank failure stuns Wall St.

August 25, 2008

Worries about the U.S. banking sector resurfaced after federal regulators were forced to take over the ninth bank this year. In Wall Street action blue chips dropped 241 points to 11,386. The S&P 500 lost 25 points to 1,266. The Nasdaq fell 49 points to 2,365. Crude oil rose 52 cents to $115.11 a barrel. SPEAKER: Christopher Mutascio, banking analyst, Stifel Nicolaus Conway Gittens reports from New York.