Wild Ride Ends With a Slide

Other lenders benefited from a mid-session reversal. On the Dow, JPMorgan Chase (JPM Quote) and American Express (AXP Quote) rose 0.9% and 2.3%, respectively. Goldman Sachs (GS Quote), Citigroup (C Quote), and Bear Stearns (BSC Quote) were each higher by 0.5% or more.

Away from equities, oil dipped 2 cents to close at $95.98 a barrel. For the year, however, prices surged 57%.

The dollar held steady in the trading day against the world's major currencies, but still saw its second consecutive losing year.

Overseas markets also were mixed. Overnight in Asia, Hong Kong's Hang Seng added 1.6%. Among European bourses, London's FTSE 100 eased 0.3%, and the Paris CAC 40 was off 0.2%.