Dow Plunges, Bailout Rejected
Yeah well, that may not be the ideal sequence of events, but that’s how I received the two New York Times alerts a few hours back. But what difference does that make anyway.
At 7.43 PM, India Time: Dow Falls 300 Points in Early Trading
Stocks opened sharply lower on Monday, as the near-collapse
of Wachovia seemed to underscore the continuing vulnerability
At 11.52 PM, India Time: House Rejects Bailout Package, 228-205
In a moment of historic drama in the Capitol and on Wall Street, the House of Representatives voted on Monday to reject a $700 billion rescue of the financial industry.
Expect some plunges in the Sensex over the next few days, even though our economy is in a good condition.