Monday, December 19 Market Recap

MONDAY (DJIA -100) ATT dropped its attempt to buy T-Mobile. It just was not going to get FCC approval. U.S. banks got hammered. BofA was down 4.1%, closing below $5. Reports about the Fed requiring higher capital reserves for banks caused the pressure. Some gloomy comments by ECB president Draghi weighed on markets, as well. €150M of bailout capital from countries outside of Europe has been raised, but that is short of the €200M desired. Volume was light.