Tuesday, September 30, 2008

Wall Street $700 billion bailout rejected

by Bharat Mudgal 0 comments



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Source: http://news.yahoo.com/s/ap/20080929/ap_on_bi_ge/financial_meltdown

In a stunning vote that shocked the capital and worldwide markets, the House on Monday defeated a $700 billion emergency rescue for the nation's financial system, ignoring urgent warnings from President Bush and congressional leaders of both parties that the economy could nosedive without it.

senatehouse

Stocks plummeted on Wall Street, beginning their plunge even before the 228-205 vote to reject the bill was officially announced on the House floor. The Dow Jones industrials sank nearly 700 points for the day.

At the time of writing the related quotes were:

^DJI
10394.92
-748.21
^IXIC
1983.73
-199.61

^GSPC
1110.01
-103.00

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Bharat Mudgal
Analyst, stockMode Networks
India
bharatmudgal@stockMode.com

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