U.S. stocks slide, Dow plunges 777 points, as bailout bill fails

Date: Mon, 29 Sep 2008 17:03:47 -0400
U.S. stocks slide, Dow plunges 777 points, as bailout bill fails

U.S. stocks sink, with the Dow Jones Industrial Average plunging as much
as 700 points, with legislators in the House of Representatives
rejecting the government's $700 billion rescue plan for the financial
sector.

House rejects U.S. $700 billion rescue package

House lawmakers vote to reject the historic $700 billion financial
rescue plan, a sharp blow to the administration and bipartisan leaders
in Congress who warn that the country is on the brink of an economic
precipice.

Treasury unveils money-market support plan

The Treasury Department releases details about its guarantee program for
money-market funds, expanding on the announcement it first made during a
run on the funds.

Citi to buy Wachovia's bank biz in latest government-backed deal

Wachovia becomes the latest financial-services giant to succumb to the
global credit crunch under a sell-off of operations to Citigroup Inc.

The Ratings Game: Apple shares pounded after downgrades

Apple Inc. shares fall to their lowest levels in 16 months Monday as two
analysts cut their ratings on the Mac maker's stock due to a growing
risk that consumer spending on high-end electronics is slowing down
heading into the end of the year. .