Stocks down as House OKs bill

October 3, 2008 1:24:52 PM PDT
Stocks are ending a volatile week with another sharp loss after enthusiasm over the government's $700 billion financial rescue plan gave way to worries about obstacles still facing the economy.Investors sold stocks lower after a big intraday rally, repeating a pattern seen throughout the year-long market pullback.

While investors remain hopeful that the government's plan to buy up unwanted assets that are clogging the credit markets, they're worried that the broader economy is weakening.

The Dow Jones industrials are ending down 157 points at the 10,325 level after being up more than 300 while the House vote was under way.

Investors still have plenty of economic worries, underscored by the Labor Department report telling of 159,000 jobs lost last month.

The Dow fell 157 points to 10,325. It was down 7 percent for the week.

The S&P lost 15 points today to 1,099.

And the Nasdaq composite fell 29 points to 1,947.

Declining issues held a nearly 2-to-1 lead over advancers.

Some 6.4 billion shares changed hands on the NYSE. Nasdaq stock market volume was 2.5 million shares.

Light, sweet crude for November delivery fell 9 cents to settle at $93.88 a barrel on the New York Mercantile Exchange.


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