(Newser)
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Stocks swung between gains and losses today as the proposed financial bailout continued to dominate conversation but remained unsettled. The technology-rich Nasdaq was more insulated from the swings, and closed up 2.35 at 2,155.68. The Dow lost 29.00 to close at 10,825.17, while the S&P 500 shed 2.35, settling at 1,185.87, the Wall Street Journal reports.
“I don't think the market is fearful that it won't happen,” one trader said of the bailout. “But the question is the aftermath. Will it work?” Financials traded generally lower, except for Goldman Sachs, which traded up 3.94% on the news of Warren Buffett’s $5 billion cash infusion. AIG, meanwhile, plummeted 33.06% as it confirmed it would take the government’s $85 billion, having failed to find private financing.
Sources:
Wall Street Journal,
MarketWatch