Financials Lead Broad Slump

Traders nervous about long-term effects

(NEWSER) - Stocks plummeted today as uncertainty over the cost and long-term impact of the Wall Street bailout plan spread and oil surged, MarketWatch reports. Treasuries and the dollar fell as traders worried the bailout’s cost could affect the government’s status as a borrower. The Dow closed down 372.75, at 11,015.69. The Nasdaq lost 94.92, closing at 2,178.98, and the S&P 500 lost 47.99, closing at 1,207.09. More»

Rising dollar, falling oil contribute as well

(NEWSER) - Stocks posted solid gains today for the first time in three days as financials rebounded, the dollar gained, and oil fell nearly $1, MarketWatch reports. The Dow rose 82.97 points to close at 11,615.89, the Nasdaq gained 25.05 to 2,453.67, and the S&P 500 climbed 7.10 to 1,292.93. More»

Bad news and lingering doubts about yesterday's cut keep rally tame

(NEWSER) - Stocks gained slightly after the Fed's decision to join four other central banks in pumping cash into the global financial system. Following yesterday's plunge of nearly 300 points after the Fed cut interest rates by only a quarter-point, the Dow gained 41.13 to close at 13,473.90. The Nasdaq was up 18.79 to 2,671.14, while the S&P tacked on 8.95 to close at 1,486.60. More»

Dow up 50

(NEWSER) - News of Osama bin Laden’s death cheered markets today, with the Dow gaining 50 points, and the S&P and Nasdaq rising 4 points and 8.5 points, respectively, Politico reports. Oil futures meanwhile, fell 2%, and the dollar rose. The gains followed similar increases in Japan and South Korea overnight. Click to read more . More»

Intel, JP Morgan earnings, though positive, stoke worry

(NEWSER) - Stocks started the day with losses and failed to recover, with financials leading the slide. JPMorgan Chase dragged down the sector thanks to its quarterly report, which showed strong earnings but hinted at continued weakness in consumer loans, the Wall Street Journal reports.

• The Dow fell 100.90 points to close at 10,609.65.
• The Nasdaq lost 28.76, settling at 2,287.99.
• The S&P 500 dropped 12.43, closing at 1,136.03.