After the House failed to pass bailout legislation this afternoon, stocks tumbled “with the Dow’s nearly 778-point drop being the worst single-day point loss ever.” Today’s drop surpassed the “the 684.81 loss on Sept. 17, 2001 – the first trading day after the September 11 attacks.”
Update
According to Bloomberg News, “stocks lost $1.1 trillion in value, meaning the market loss was larger than the size of the $700 billion bailout.”
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