The House of Representatives passed the revised $700 billion intervention package, which failed passage on Monday. The plan will allow the government to purchase bad mortgage-related debt securities in an attempt to unclog the frozen credit markets. Details from Bloomberg...
The Dow Jones Industrial Average lost 157 points (1.5%) to close at 10,326, the S&P 500 Index fell 15 points (1.4%) to 1,099, while the Nasdaq Composite declined 29 points (1.5%) to 1,947. Crude oil dropped $0.09 to $93.88 per barrel, and gold ended down $4.40 at $839.90 per ounce. For the week, the DJIA dropped 7.3%, the S&P 500 Index was down 9.4%, and the Nasdaq Composite fell 10.8%.
Magnificent Seven Update
Weekly Analysis Of Magnificent Seven ETFs
