First-time benefit claims rose by 7,000 after rising 17,000 in the previous week, Labor officials said.
Citibank shares dropped 6.67 percent after Wednesday's stock sale raised $20.5 billion, but diluted stock value. Bank of America shares lost 2.62 percent. Wells Fargo & Co., which raised $12.3 billion Tuesday, fared better; its share value up 0.89 percent.
By close, the Dow Jones industrial average lost 132.86 points, 1.27 percent, to 10,308.26. The Standard & Poor's 500 lost 1.18 percent, 13.10 points, to 1,096.08. The Nasdaq composite index fell 1.22 percent, 26.86 points, to 2,180.05.
On the New York Stock Exchange, 845 stocks advanced and 2,203 declined on a volume of 7.6 billion shares traded.
The benchmark 10-year U.S. Treasury bill rose 32/32 to yield 3.48 percent.
The euro fell to $1.4338 from Wednesday's $1.4534. Against the yen, the dollar rose to 89.92 yen from Wednesday's 89.79 yen.
In Japan, the Nikkei 225 index lost 0.13 percent, 13.61 points, to 10,163.80.
In Britain, the FTSE 100 index fell 1.93 percent, 102.65, to 5,217.61.
Copyright 2009 by United Press International.
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