Updated from 3:27 p.m. EDT

No Winners Here

( At 5:50 p.m. EDT)

Glad that's over. The Dow Jones Industrial Average plunged Monday, as every one of its stocks retreated. We've not seen a day this bad since early March.

All told, the index dropped 289.60 points, or 3.6%, to 7841.73 and in the process lost $106 billion in market capitalization. The decline, which ended a three-session winning streak, also cut its gain for the month to 3.1% and pushed the year-to-date loss to 10.7%.

From a percentage standpoint, Bank of America ( BAC), down 24.3% to $8.02, and Citigroup ( C), off 19.5% to $2.94, were the worst performers. On a point basis, JPMorgan Chase ( JPM) and American Express ( AXP) were the biggest problems, together accounting for roughly 50 points of the overall decrease.

After the close, IBM ( IBM) posted its numbers, and the report wasn't doing much to help out the shares. Profits were better than expected, but sales missed estimates. Recently, the stock was down 1.6% to $98.86.

So the sellers won the day, quite easily, in fact. We'll see if they can again tomorrow, when five Dow components are set to report their results -- Caterpillar ( CAT), DuPont ( DD), Merck ( MRK), United Technologies ( UTX) and Coca-Cola ( KO).

And It's Cold and Raining

( At 3:10 p.m. EDT)

Ugly day out there in New York. Stocks aren't doing very well, either.

Right, I shouldn't talk about the weather at a time like this. So the Dow starts the week with a good old fashioned selloff. Recently it was down 270 points, or 3.3%, to 7852. Not good.

All 30 stocks were in the red, and Bank of America ( BAC) remained the worst, off 22.4% to $8.23. Citigroup ( C) had it almost as bad, falling 20.3% to $2.91.

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