NEW YORK -- The Dow Jones industrial average plunged almost 450 points today, to nearly a three-year low, as the government's bailout of American International Group Inc. did little to soothe investors' increasingly frayed nerves about the global credit crisis.
The credit markets showed more signs of freezing up as banks hoarded cash reserves. Many shellshocked investors bought gold and Treasury bills for fear of owning anything with even the slightest hint of risk.
9.17.2008
Roller Coaster
Congratulations taxpayer, that corporation you gave $85-billion to yesterday probably isn't worth half that today....
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