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
October 1, 2008; 4:40 PM ET
Categories: The Ticker
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