Dow Drops 508 Points

(NEWSER) - Stocks plunged at the open, as banks sold shares to raise capital, and consumer and commodity stocks took a pounding, the Wall Street Journal reports. The Dow was down 140, the Nasdaq down 1.8% and the S&P off 2.1. Oil producers were hit hard as crude fell blow $58 a barrel, while Bank of America and Morgan Stanley led financials south, falling 3% and 2% respectively. More»

Stocks fall on poor earnings, more job cuts

(NEWSER) - Stocks turned lower as jubilation over the Fed’s rate cut yesterday died down and concerns about the slumping economy returned today, the Wall Street Journal reports. Losses by Morgan Stanley and Goldman Sachs dragged financials lower. The Dow closed down 99.80 at 8,824.34. The Nasdaq fell 10.58 to close at 1,579.31, and the S&P 500 lost 8.76 to settle at 904.42. More»

Bernanke urges more fiscal stimulus

(NEWSER) - Stocks extended earlier gains with a late-session rally today as Ben Bernanke voiced support for a new fiscal stimulus package and a key indicator showed a loosening in the flow of credit, MarketWatch reports. The Dow rose 413.21 to 9,265.43, the first time it has closed over 9,000 in 4 days. The Nasdaq gained 58.74 to close at 1,770.03, and the S&P 500 climbed 44.85 to settle at 985.40. More»

Fed may have plan to quarantine bad debt; banks see gains

(NEWSER) - The markets rallied late in today’s rollercoaster session, keying on a $360 billion plan to shore up money markets and reports that the Fed might form a government body to absorb firms’ bad credit bets, the Wall Street Journal reports. The Dow gained 410.03 to close at 11,019.69. The Nasdaq closed up 100.25 at 2,199.10, while the S&P 500 rose 50.01, settling at 1,206.40. More»

SEC moves to restrict short selling

(NEWSER) - Stocks plummeted again today as insecurity about the financial system gripped the markets, the Wall Street Journal reports. The AIG bailout proved to be of little comfort to traders, who quickly began betting on the next big firm to fall. The Dow closed down 449.36 points to 10,609.66. The Nasdaq fell 109.05, closing at 2,098.85, and the S&P 500 lost 57.21 points, settling at 1,156.39. More»