| Stocks tumble as bailout plan fails in House By TIM PARADIS AP Business Writer NEW YORK (AP) -- Wall Street has ended a stunning session with a huge loss, with the Dow Jones industrials plunging more than 660 points after the failure of the financial bailout plan in the House. Stunned traders on the floor of the New York Stock Exchange watched on TV screens as the House voted down the plan. And they saw stock prices tumbling on their monitors. The plan's failure means no one knows how the financial sector hobbled by hundreds of billions of dollars in bad mortgage bets will recover. The credit markets remain close to frozen as banks are too afraid to lend _ including loans to to other banks. The Dow is down about 667 points at the 10,475 level. Associated Press text, photo, graphic, audio and/or video material shall not be published, broadcast, rewritten for broadcast or publication or redistributed directly or indirectly in any medium. Neither these AP material nor any portion thereof may be stored in a computer except for personal and non-commercial use. AP will not be held liable for any delays, inaccuracies, errors or omissions therefrom or in the transmission or delivery of all or any part thereof or for any damages arising from any of the foregoing. Copyright 2008 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. |
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