Dow Stumbles Out Of Gate
So, let's get this straight: Yesterday, it seemed possible that some version of the $700 billion Wall Street rescue plan would be approved sometime sooner than later.
The Dow shot up nearly 500 points.
Today, you've got Senate leaders saying that it's almost certain that they will approve their version of the rescue deal by tonight.
So, naturally, in the first 40 minutes of trading on Wall Street today, the Dow is down more than 170 points and falling.
The S&P 500 and the Nasdaq are down, too.
Analysts said they expected a softer opening today, as the markets return to focusing on the fundamental problems -- the credit crisis is worsening, for instance.
In some good news for Google, whose shares got hammered in the last minutes of trading yesterday, turns out to be the victim of what the Nasdaq is calling "erroneous" trades, which have been wiped out, restoring much of the tech giant's value.
-- Frank Ahrens
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