Wall St. slides as banks eclipse housing optimism (Reuters)

NEW YORK (Reuters) – Stocks fell on Friday as persistent worries about banks eclipsed news the government would announce a plan next week to prop up the housing sector by helping homeowners avoid foreclosures.

Manufacturer of Skiploader Oil Tank

Initial enthusiasm over the prospect of relief on the housing front proved to be short-lived after the White House cautioned against unreasonable expectations and doubts lingered about how banks will cleanse their books of toxic assets. The Dow on Friday had its lowest close since the bear market closing low of November 20, capping a week when financial stocks were repeatedly pummeled as the government's latest bank rescue plan failed to allay investor worries.

Full Story: Wall St. slides as banks eclipse housing optimism (Reuters)