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NEW YORK (AP) - Shares of most diversified financial-services companies dropped on Friday, as investors' concerns increased about continuing fallout from the credit market crisis and rising oil prices.
American International Group revived worries about the health of the global financial system after the insurer posted a wider-than-expected first-quarter loss late Thursday.
On Friday, oil futures topped $126 a barrel for the first time.
Also, Citigroup said it plans to shed about $500 billion in assets as part of its recovery plan.
Where some diversified financial companies' shares closed on Friday:
Citigroup, down 67 cents, or 2.8 percent, to $23.63.
Bank of America, down 68 cents to $36.65.
CIT Group Inc., down 63 cents, or 5.1 percent, to $11.62.
Bucking the trend, JPMorgan Chase & Co. shares gained 52 cents to $46.57.
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