Wall Street Dives To Close
With about 10 minutes left on the trading day, the markets continue to shed value.
The Dow is down nearly 400 points, or about 4 percent.
The S&P 500 and Nasdaq are both down about 4.5 percent.
The markets were buoyed, briefly, by the Fed's announcement this morning that it would buy up short-term debt, but the good news didn't take.
Any number of individual reasons could contribute to today's dive, but more than likely Wall Street has now moved beyond the $700 billion (plus $150 billion more in tax breaks, etc.) Wall Street bailout/rescue plan signed by President Bush last week.
Which means Wall Street is now trading on the underlying fundamentals of the U.S., and global economy, which are weakened.
-- Frank Ahrens
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