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Wild Monday in the Markets
What a ride! Investors worldwide quaked today as indexes plummeted, with the Dow down as much as 800 points before bounding back to a mere 369-point loss, falling below 10,000 for the first time in four years. Uncertainty about the $700 billion bank bailout and European bank rescues sent stocks reeling in Asia and Europe, as well -- stocks on the Russian indexes slid so fast they were halted for the third time in recent weeks. Not surprisingly, gold rallied, oil dipped, and the dollar gained strongly against the euro. "Everybody thought that the bailout was a panacea. But it's not, it's a tourniquet that stops the bleeding so the patient doesn't die right away," Dan Genter, president and CEO at RNC Genter Capital Management, told CNN.
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