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DJIA Leaders and Laggards: AIG, Disney, Citigroup, IBM

AP ONLINE

Posted: 2008-05-07 16:35:05

NEW YORK (AP) _ The Dow Jones industrial average ended lower on Wednesday after taking a sharp downturn late in the day, with financial services companies the index's biggest decliners.

The blue chip index lost 206.48 points, or 1.6 percent, to end at 12,814.35. Only six stocks finished higher on the 30-ticker index.

American International Group Inc. lost $3.32, or 6.9 percent, to $45.08. The insurer is scheduled to report first-quarter results after the end of trading Thursday. Analysts expect a loss.

Citigroup Inc. fell $1.39, or 5.4 percent, to $24.48.

American Express Co. tumbled $2.26, or 4.4 percent, to $48.70.

Among the gainers, The Walt Disney Co. added 97 cents, or 2.9 percent, to $34.70 after saying its second-quarter profit grew 22 percent, beating analyst estimates.

International Business Machines advanced $1.82 to $124.14.

Wal-Mart Stores Inc. rose 48 cents to $56.83.