Stock Market Loses $1 Trillion in Three Days
More bad news on the economic front. The Dow Jones dropped more than 410 points today.
The Dow Jones industrials dropped more than 410 points, and all the major indexes lost more than 4 percent. The stock market has lost about $1 trillion over the past three days, according to the Dow Jones Wilshire 5000 index, which reflects the value of nearly all U.S. stocks.
U.S. Treasury Secretary Henry Paulson said he was backing away from buying troubled mortgage assets and would focus on the capital needs of both banks and non-bank financial institutions.
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