By  on September 26, 2008

A final-hour rally by the Dow Jones Industrial Average limited the index’s fall for the week to just over 2 percent, while a more energetic late move by retail shares locked in the week’s declines at nearly 5 percent.


 
As lawmakers continued to hammer out details of a rescue plan for Wall Street, financial stocks absorbed the biggest failure in U.S. banking history – Thursday night’s Washington Mutual collapse and the subsequent takeover of some of its assets by J.P. Morgan Chase & Co. Meanwhile, Wachovia’s shares dropped before the bell as reports spread it was in early-stage merger discussions with Citigroup.

To access this article, click here to subscribe or to log in.

To Read the Full Article
SUBSCRIBE NOW

Tap into our Global Network

Of Industry Leaders and Designers

load comments
blog comments powered by Disqus