Tuesday, February 10, 2009

Just in from Washington

Senate Approves Stimulus Plan
Washington--After a 61-to-37 vote that was along party lines, negotiations with the House over the $838 billion bill will begin.

Dow Drops 4.6% While the S&P 500 Lost 4.9%

Major stock indexes slumped after Treasury Secretary Timothy F. Geithner unveiled the latest government program to bail out the banking system, with the Dow dropping 382 points to close at 7,888.88 and the broader S&P 500 index fell 4.9%. Investors bid up prices of Treasury securities in a flight to safety.

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