Last Updated: February 23rd, 2009: 12:05 PM ET---After opening higher on news that the government was in talks with Citigroup (NYSE:C) over further aid without nationalization, the major US equity indices have since fallen into the red as early optimism has eroded. All ten major economic sectors are trading with losses while basic materials and technology shares lead the pack lower, down 3.3% and 2.6%, respectively. The Dow Jones Industrial average is currently trading 1.3% lower to 7,274, nearing its low set last Friday. The S&P 500 is down 1.6% to 758 while the Nasdaq is showing the worst performance of the major indices, trading 2.2% lower 1,410.

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