Lenders fall on cliff concerns

Investor's Business Daily

The Banks-Money Center group was down 1% in premarket trading, but rebounded slightly in mid-morning trading Fri. before closing down 0.9% as investors worry about the impact of going over the fiscal cliff if Washington can't reach a decision by the Dec. 31 deadline. Bank of America (BAC)shares fell 1%. Citigroup (NYSE:C)shares fell 0.6%. Wells Fargo (WFC) shares fell 0.8%. Goldman Sachs (GS) shares fell 0.9%. Individual stocks have done well in recent weeks. BofA and Citi are near a 52-week high. Wells Fargo and Goldman are trading above their 50-day averages.

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