Network News

X My Profile
View More Activity
2.7%  Q1 GDP    4.57%  avg. 30-year mortgage     9.5%  Unemployment

Markets Close Slightly Down, Await Senate

Wall Street recouped most of its opening-bell dive by the closing bell today, ending slightly down as the market seemed to spend most of the afternoon looking forward to tonight's planned Senate vote on the $700 billion Wall Street rescue plan.

The Dow closed down 19.59 points, or .18 percent, at 10,831.07.

The Nasdaq closed down 22.48, or about one percent, at 2,069.40.

The S&P 500 closed down 5.30, or about half of one percent, at 1,161.06.

The Dow got a mid-afternoon bump from Warren Buffett's $3 billion buy-in to GE, but it also had to absorb the dismal September vehicle-sales figures. (Ford, Toyota and Chrysler: All down more than 30 percent compared to September of last year.)

Proponents of the rescue plan point to the seized-up credit markets at the heart of the crisis, saying that if the plan is not passed, consumers will be unable to get car loans, for instance, and vehicle sales will plummet further.

They could get worse than September?

-- Frank Ahrens

By Frank Ahrens  |  October 1, 2008; 4:40 PM ET
Categories:  The Ticker  
Save & Share:  Send E-mail   Facebook   Twitter   Digg   Yahoo Buzz   StumbleUpon   Technorati   Google Buzz   Previous: 'Coach' Buffett Steps In Again, Buys Some GE
Next: Obama: Crisis 'Will Be Worse If We Do Not Act Now'

No comments have been posted to this entry.

The comments to this entry are closed.

RSS Feed
Subscribe to The Post

© 2010 The Washington Post Company