Stocks Crash As Financial Bailout Plan Fails To Gain Approval
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U.S. equity markets are under heavy pressure mid-day after the financial bailout failed to gain Congressional approval.
The vote in the House was 205 for and 228 against.
Currently the Dow is down is down 580, The Nasdaq is down 148 and the S&P 500 is down 80. The Dow had been down 700 points.
The plan would have given the U.S. Treasury the power to buy troubled mortgages and like-securities from financial institutions in an effort to free them up to start lending again to avoid a financial catastrophe.
The vote in the House was 205 for and 228 against.
Currently the Dow is down is down 580, The Nasdaq is down 148 and the S&P 500 is down 80. The Dow had been down 700 points.
The plan would have given the U.S. Treasury the power to buy troubled mortgages and like-securities from financial institutions in an effort to free them up to start lending again to avoid a financial catastrophe.
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