Bank news sends stocks into retreat

The Dow Jones industrial average had its first triple-digit drop of 2010 as mounting losses from loans at JPMorgan Chase & Co. and disappointing consumer data sent investors rushing from stocks.

Financials led the market lower Friday, pulling major indexes down about 1 percent from 15-month highs. The Dow fell 100.90 points, or 0.9 percent, to 10,609.65, the biggest drop since it lost 120 points on the final day of 2009. The Standard & Poor's 500 index fell 12.43, or 1.1 percent, to 1,136.03, and the Nasdaq composite index fell 28.75, or 1.2 percent, to 2,287.99. The yield on the 10-year Treasury note fell to 3.68 percent from 3.74 percent. - AP