Mid-Morning Slump On Wall Street

With about 45 minutes to go before lunch, all three major Wall Street markets are down more than 1 percent, with the Dow off about 155 points, a slight recovery from its morning low of more than 180 points.

Hardest hit, as expected, are financials.

On CNBC, Sen. Evan Bayh (D-Ind.) indicated that there may be growing support on Capitol Hill for some kind of cap on executive compensation for companies participating in the government bailout, as the Wall Street Journal is reporting. Also in the Democrat-controlled Senate bailout draft, according to the WSJ: The creation of an oversight firm headed by the chiefs of the Fed, the FDIC and SEC and a provision that would give the government a stake in financial firms.

Elsewhere, Nike and Hewlett-Packard announced share-buyback plans, as well as Microsoft.

--Frank Ahrens

September 22, 2008; 11:27 AM ET  | Category:  business
Previous: Wall Street Opens Cautiously | Next: Senate Dems Release Their Bailout Plan


Please email us to report offensive comments.

This website seems to be limiting comments today.

Posted by: ErrinF | September 22, 2008 11:58 AM

Actually, as of 11:42am eastern time, the dow is down around 220 points. But where is the dow jones update on the front page of this website? Got something to hide, Washington Post?

Posted by: ErrinF | September 22, 2008 11:58 AM

Anybody else notice that this website is limiting comments today? And why won't they show the dow jones ticker on the front page?

Posted by: ErrinF | September 22, 2008 11:58 AM

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