Last Updated: February 20th, 2009: 12:12 PM ET---The major US equity indices are showing significant weakness, trading at session lows, as investors' concerns over major bank nationalization have heightened with Citigroup (NYSE:C) dropping below the $2.00 level. The Dow is off 1.7% to 7,341, the Nasdaq is only trading 0.6% lower to 1,435 while the S&P 500 is off 1.7% to 766. Telecom is the only sector in the green, sporting a gain of 1.4% while financials are once again the day's laggard, off 4.5%. In a flight to quality with the indices approaching their bear market lows, the April contract for Comex gold hit an intraday high of 1,000.30 per troy oz., a level not seen since March 17th of 2008.

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