- Associated Press
- Traders work on the New York Stock Exchange during today's selloff.
Dow closes down 370 after plummeting as much as 800 points
Joe Del Bruno - Associated Press
Updated: 10/06/08 4:27 PM
NEW YORK -- Wall Street suffered through another extraordinary and traumatic session today, with the Dow Jones industrials plunging as much as 800 points -- their largest one-day point drop -- before recovering to close with a loss of 370.
The catalyst for the selling, which also took the Dow below 10,000 for the first time in four years, was investors' growing despair that the spreading credit crisis will take a heavy toll around the world.
Investors have come to the realization that the Bush administration's $700 billion rescue plan and steps taken by other governments won't work quickly to unfreeze the credit markets.
That...
EVENT LISTINGS FROM GUSTO
Latest Local News
- Too early to determine Edwards' status
10/06/08 4:55 PM
- Two accidents tie up Niagara Thruway
10/06/08 3:52 PM
- Clarence boy makes the cut in 'Sports Kid' competition
10/06/08 4:05 PM
- Suspicious devices prompt evacuation at police headquarters
10/06/08 2:13 PM
- Judge orders vote on West Seneca downsizing
10/06/08 3:05 PM
- Man shot this morning on Northland Avenue
10/06/08 12:32 PM
- Kryzan may get Working Families line in race against Lee
10/06/08 5:25 PM
- Driver faces multiple drug charges after traffic stop
10/06/08 11:50 AM
- Erie Canal Harbor unveils Web site
10/06/08 11:32 AM
- Busti motorcyclist seriously hurt in collision with deer
10/06/08 10:36 AM
- Local firm buys American Axle site on Delavan Ave. in Buffalo
10/06/08 4:58 PM
- Eden man arrested in city with AK-47, six handguns
10/06/08 10:13 AM
- Man jumped, robbed by gang in Schiller Park
10/06/08 9:06 AM
- West Seneca man stopped for DWI in Concord
10/06/08 8:52 AM
- Amherst man charged with DWI after accident in Clarence
10/06/08 10:14 AM
- Good morning, Buffalo
10/06/08 12:54 AM
24 Hour Breaking News
Updated 10/06/08 07:28 PM
- Concord teen spared more jail time in brother's shooting
-
Dominick "Nick" Drumsta III today was spared a jail term for what the family has always maintained was the accidental shooting of his younger brother, ending a criminal prosecution both his parents and pastor insisted was a waste of taxpayer money and law enforcement resources.
- complete story >
- Bills fans scramble after dispute knocks Sunday's game off cable TV
-
Security guard Tyrone Jones called his own audible after learning the Bills game would not be on his TV set Sunday.
- complete story >
City & Region
- Overt bias against women has become less common on the job
-
When Joan Bender first joined the leadership ranks of the union for white-collar employees in Erie County government, past practice gave each man his own hotel room on trips to labor meetings and conferences. Women had to share a room.
- complete story >
Sports
- Too early to determine Edwards' status
Coach Dick Jauron today said it was too early to say quarterback Trent Edwards will be able to play Oct. 19, when the Bills come off their bye week and host the San Diego Chargers.
- complete story >
Business
- Erie County is seeing some most hospitable trends
-
High gasoline prices, a robust Canadian dollar and a good base of convention business have bolstered Erie County’s hospitality industry this year, tourism officials say.
- complete story >
World & Nation
- A lot of banks not likely to survive in ’09
-
SAN FRANCISCO — Here’s a safe bet for uncertain times: A lot of banks won’t survive the next year of upheaval despite the U. S. government’s $700 billion plan to restore order to the financial industry.
- complete story >
Opinion
- Improve care of veterans
If there was one encouraging area of agreement between John McCain and Barack Obama at their first debate, it was in the urgent need for the country to care better for its wounded veterans, especially those coming home from wars in Afghanistan and Iraq.
- complete story >
Life
- Hunkering down for tough times
Now is not the time to panic. It is, however, the time for a wake-up call. Sometimes fear can be the greatest motivator. And what’s better than the threat of an economic depression to get us serious about our finances and spending habits?
- complete story >
Entertainment
- Here are some ways to stretch your entertainment dollar to the max
-
With the cost of groceries, gasoline and just about everything else squeezing pocketbooks, disposable income for entertainment is shrinking even if the to go out isn’t.
- complete story >
