After a record point drop on Erev Yom Tov, the Dow closed 485 points up on Tuesday amid hope that Congress will regroup and pass a bill this week.
On Wednesday (day 2 of Rosh Hashanah), the financial markets saw some relative calm as investors uneasily awaited a Senate vote on the banking bailout plan, with Wall Street falling only moderately and the credit markets still showing signs of strain. The Dow Jones industrials zigzagged during the session, losing more than 200 points in early trading but closing down about 20.
Many investors were reluctant to make any major moves before the vote expected Wednesday night on a revised version of the plan defeated earlier this week by the House. The new proposal includes tax breaks for businesses and the middle class and increases deposit insurance.
The S&P500 Index retreated 5.3 points, or 0.5 percent, to 1,161.06, extending its biggest monthly drop in six years. The Dow Jones Industrial Average slipped 19.59 to 10,831.07. The Nasdaq Composite Index fell 22.48, or 1.1 percent, to 2,069.4.
(Bloomberg.com / Yahoo)
http://www.theyeshivaworld.com/article.php?p=24166
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