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Gyrations on Wall Street
A day of wild swings on Wall Street has ended with the Dow Jones Industrial Average nearly 200 points down, to 9,252.85. Only 200 points, you say? Yes, it's better than the last few days, but coming on the heels of an emergency move by the world's central banks—a coordinated rate cut that was supposed to boost international indexes—it was far from a positive day, with Asian markets taking a particular plunge. The Dow has lost 13 percent over the last five days of trading. Best of all? Wall Street veterans say investors should brace for more bad news over the next few months, and Treasury Secretary Hank Paulson says he expects more financial institutions to declare bankruptcy. Happy Wednesday!
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