Wall Street plunged more than 4 percent on Inauguration Day Tuesday as bank woes spread while investors failed to find confidence from President Barack Obama's inauguration speech.

The Dow Jones Industrial Average was down more than 330 points, or 4 percent, falling below 8,000 for the first time in 2009, while the Standard & Poor's 500 and the Nasdaq indexes dropped more than 5 percent.

Shares of major U.S. banks -- Bank of America, J.P. Morgan Chase and Citigroup -- tumbled around 20 percent as fears on bank woes spread.

(Xinhua News Agency January 21, 2009)