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US stocks drop on worries about banks

NEW YORK (AP) — U. S. stocks slumped after another turbulent day of trading. The S&P 500 fell 0. 6% Thursday after erasing a morning gain. The Dow Jones Industrial Average dropped 0. 7%, and the Nasdaq composite sank 0. 5%. Bank stocks led the way on worries about loans they’ve made. Zions Bancorp. tumbled after saying it’s charging off $50 million in loans. Western Alliance Bancorp dropped after saying it has sued a borrower, alleging fraud. The question is whether such hiccups are or a...

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