Dow Falls 777 On House Vote
Posted Sep 29, 08 3:42 PM CDT in
Business
(Newser)
–
The Dow saw its biggest single-day drop ever today after the House rejected the financial bailout bill and adjourned until Thursday, MarketWatch reports. Equities and commodities were pounded equally as the Dow plunged 777.68 to close at 10,365.45 and oil fell $10.52, to $96.37 a barrel. The Nasdaq shed 199.61, closing at 1,983.73, while the S&P 500 lost 106.59 to settle at 1,106.42.
“We're stunned right now, just trying to figure out what comes next,” one broker told the Wall Street Journal. Added another: “There's an increasing realization that the cleanup and the mending of all that's gone wrong is going to take an extended period to work through, and we're going to see an extended recovery period.”
Sources:
MarketWatch,
Wall Street Journal
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