Stocks Down on Bailout Delay

By Kevin Spak,  Newser Staff
Posted Feb 9, 2009 8:41 AM CST
Traders work on the floor of the New York Stock Exchange, Friday Jan. 30, 2009.   (AP Photo/Richard Drew)
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(Newser) – Stocks slid at the open, after Timothy Geithner pushed back the announcement of his much-anticipated bank rescue plan until tomorrow. The Dow dropped 40 points, while the Nasdaq and S&P barely budged, falling 0.6% and 0.4% each. But financial stocks actually rose, with Bank of America, Citigroup, and Morgan Stanley all up. Barclays shot up 13%, after announcing it wouldn’t take more cash from the British government.