Secretary Geithner announced a broad outline of the Financial Stability Plan today. The key components of the plan included: new capital for banks, establishment of a Public-Private Investment Fund to leverage private market funding jointly with government capital, expansion of an asset-backed securities purchase facility, and aid to stem the problems in the housing market.
Wholesale inventories fell 1.4% in December, versus the forecast of a 0.7% drop. November was revised lower from a 0.6% decline to a 0.9% drop.
The Dow Jones Industrial Average lost 382 points (4.6%) to close at 7,888, the S&P 500 Index fell 43 points (4.9%) to 827, and the Nasdaq Composite declined 67 points (4.2%) to close at 1,525. Crude oil fell $2.01 to $37.55 per barrel, and gold rose $22.60 to $917.15 per ounce.
Daily Update Of Open Positions...Stocks & ETFs
