3:30 p.m.: Dow falls 800

NEW YORK (AP) Despair about a weakening global economy is sweeping across Wall Street, propelling the Dow Jones industrials down more than 800 points and giving the blue chips a new record for a one-day point drop. Investors around the world have been selling off stocks as they come to realize that financial systems in the United States and other countries need more than government bailouts to fix them.

Meanwhile, the credit markets remain stagnant, a sign that banks are too afraid to lend. The Federal Reserve is making more money available for borrowing, but no one expects the credit markets to ease up anytime soon.

The Dow has surpassed its previous record for a one-day point drop 778, which the blue chips suffered a week ago when investors feared the bailout package might not pass Congress.

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moonbeam
10-06-08 6:06 PM »Report Abuse	We're doomed.
bruskii
10-06-08 3:36 PM »Report Abuse	Stop the daytrading by fat cats .

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