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NEW YORK - Fear swept across the financial markets Monday, with the Dow Jones industrial average closing with a loss of over 650 points, after the government’s financial bailout package failed to survive a vote in the House.
Wall Street started tumbling in afternoon trading as the vote was shown on TV Monday afternoon, sending investors fled to the safety of the credit markets, worrying that the financial system would now keep sinking under the weight of failed mortgage debt.
Originally posted by SonicInfinity
I'm assuming this is going to be on the news nonstop until the bill passes. CNN is already overhyping the entire thing.
[edit on 9/29/2008 by SonicInfinity]
Originally posted by mental modulator
IT is the sound of your dollar shrinking, the sound of layoffs, and the sound of some very rich folks earning dollars for pennies.
Maybe the worst financial Crisis EVER