By and  on January 31, 2008

Wall Street lost midday gains Wednesday, as investors worried that a half-point cut in interest rates would not be enough to fix an economic downturn.

The Dow Jones Industrial Average momentarily spiked 0.6 percent after the Federal Reserve announcement, but lost 0.3 percent for the day, closing at 12,440.96, while the S&P 500 fell 0.5 percent to 1,355.56.

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