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Thursday, October 9, 2008

Dow Falls 678 as Market Jitters Continue

George Wenschhof

After the 700+ Billion Rescue Plan was passed by Congress and the Fed lowered a key rate a half point, the Dow continues to drop as investors remain uneasy in this crazy market. A measure called VIX, used to track investor fear, hit an all time high today. The Dow fell 678.91 today to close at 8579.19, the lowest close since 2003. has more here.

This comes as Treasury Secretary Henry Paulson says he is considering having the Treasury buy shares in banks to help restore confidence in banks. The NY Times has more here.

One month ago, Lehman Brothers was releasing 3rd quarter projected losses at just under 4 Billion and the Dow was up slightly 38.19 and closed at 11,268,92. PBS, the National Business Report for September 9, 2008, can be read here.

Over the last four weeks, the Dow has fallen 2,679 points or 24%. Stay tuned.

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