12
Nov
Stocks lower as Paulson unveils change in bailout (AP)
Filed Under (Finance) by on 12-11-2008
AP - An already disheartened Wall Street turned sharply lower Wednesday after Treasury Secretary Henry Paulson said the government won’t buy banks’ soured mortgage assets after all, disappointing investors who hoped to see the bad debt wiped off companies’ books. The Dow Jones industrials fell about 250 points, and all the major indexes dropped more than 2 percent as the market retreated for a third straight session.
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