CrimsonWhite
*****istrator Emeritus
Another four hundred points today. I thought this bill was going to stop the bleeding?
NEW YORK (CNNMoney.com) -- Stocks slumped Tuesday, with the Dow falling as much as 404 points, as the Fed's plan to loosen credit markets failed to counter investor pessimism about the government's ability to rescue the markets.
Ben Bernanke's dour economic outlook in an early afternoon speech added to the day's weakness. And a report showed consumer borrowing in August fell for the first time since January 1998.
With 30 minutes left in the session, the Dow Jones industrial average (INDU) had lost 368 points or 3.7%. The blue-chip average ended below 10,000 Monday for the first time in almost 4 years.
The Standard & Poor's 500 (SPX) index fell 4.1% and the Nasdaq composite (COMP) lost 4.2%. Both ended at multi-year lows Monday.
CNNMoney.com Market Report - Oct. 7, 2008