Wall Street falls for third day on bank concerns

NEW YORK, Jan. 22 (Xinhua) -- Wall Street pared some earlier losses but still traded in negative territory on Friday as market sentiment was hit after U.S. President Barack Obama's threat to restrict bank sizes and activities.

U.S. stocks suffered their worst one-day decline in nearly three months as fake rolex bank shares tumbled after President Obama proposed to impose new limits on the size of the nation's biggest banks as well as restrict their risk-taking abilities.

Investor seemed to be rattled in recent sessions on concerns of China's tightening monetary policy and uncertainty about the effect of Obama's bank regulations. Even as most corporate earnings beat expectations, few of them succeeded in lifting market sentiment.

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General Electric reported before the opening bell that the company's
embroidered patches net profit fell 19 percent, better than expected.

Search engine giant Google also posted fourth-quarter earnings that easily topped analyst estimates after Thursday's close.

The Dow Jones was down 22.90 to 10,366.98. Broader indexes also traded lower. The Standard & Poor's 500 index fell 3.88 to 1,112. 60 and the Nasdaq dropped 14.14 to 2,251.56.

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