Monday, September 22, 2008
Here We Go Again!
Wall Street weakens as investors look for clarity on the government's bank bailout plan. Morgan and Goldman become bank holding companies. Oil and gold prices spike. NEW YORK (CNNMoney.com) -- Stocks tumbled Monday, as worries about the Treasury Department's proposed $700 billion bailout plan for the financial services sector overshadowed any relief about the outlook for Morgan Stanley and Goldman Sachs. The Dow Jones industrial average (INDU) fell 190 points, or 1.7%, over two hours into the session. The Standard & Poor's 500 (SPX) index fell 2% and the Nasdaq composite (COMP) fell 1.5%. Another week of madness coming up but overall the Markets are tumbling.