Fears Grow Over Possibility White House Will Nationalize Banks

Investor speculation that the White House was considering bank nationalization as part of a turnaround plan prompted another exodus from key banking shares Citigroup and Bank of America led the decline with drops to multi-year lows. The bank worries helped send gold futures above $1,000 an ounce. Profits at Lowe’s were hammered, but JC Penney topped forecasts.