Markets Plunge on Bank Fears

The Dow Jones index skidded 289.60 points today, closing at 7,841.73, on fears that the financial sector still hasn't recovered. Shares of Bank of America, which reported first-quarter profits this morning of $4.24 billion (up from $1.21 billion last year), dropped 24 percent. Skepticism remains as the banking crisis appears to be continuing despite positive indicators from firms. "We may be through the worst of the crisis, but the crisis continues nonetheless," said one strategist. The S&P dipped 4.3 percent, with the Nasdaq off 3.9 percent.