4:06 p.m.: Dow finishes 350 down
NEW YORK (AP) It has been another extraordinary and traumatic day on Wall Street, with the Dow Jones industrials plunging as much as 800 points before closing with a loss of about 350.
The catalyst for the frantic selling was investors growing realization that the credit crisis is likely to take a heavy toll around the world. And while the Bush administration is starting to implement its $700 billion financial rescue plan, that and steps taken by other governments wont be enough to stop the global spread of credit troubles.
The Dow set a new record for a one-day point drop and also fell below 10,000 for the first time since 2004. But it recovered somewhat in erratic trading as bargain hunting set in. The blue chips closed with a loss of about 350 at the 9,971 level.
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moonbeam
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10-06-08 6:08 PM
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Well, it finished higher than I thought it would, but it's still bad news. And now Schwarzenegger wants billions for California too? Have the hollywood big-hitters contribute to that bailout, not the taxpayers.
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zipcityboy
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10-06-08 5:54 PM
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Brother can you spare me a dime vs. Congress can you send me another trillion? The one question is reserved for Main Street and the other for Wall Street. Problem is there is no one (except maybe Kucinich now and formerly Traficant) who represents Main Street. A real American tragedy.
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