Optimism Suffers Setback As Dow Drops for the Week
By Mark Gongloff and Peter A. McKay
Word Count: 327 | Companies Featured in This Article: American International Group, General Motors, FedEx
Wall Street’s budding optimism confronted reality during the week. Reality won.
The Dow Jones Industrial Average fell 120.90 points Friday, or 0.9%, to 12745.88, dragged lower by an 8.8% drop in component American International Group. The insurer late Thursday posted a $7.8 billion loss and unveiled a plan to raise $12.5 billion in capital. General Motors was the Dow’s second-worst performer behind AIG, falling 4.1%.
