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Wall Street Closing
Published in Saudi Press Agency on 15 - 10 - 2008

Wall Street ended the day down slightly as investors showed confidence in a government plan to buy $250 billion worth of stock in private banks.
It was the first time in nine sessions that the Dow Jones industrial average didn't close up or down in triple digits, though there was a 700-point range during the session. The Dow Jones industrial average closed down 76 points a day after its record 936-point jump.
President George W. Bush confirmed Tuesday that the U.S. government will follow a plan advanced by the British government to use part of a $700 billion financial recuse package to recapitalize struggling banks. European governments are set to invest about $2 trillion in their own troubled banks.
According to preliminary calculations, the Dow fell 76.62, or 0.82 percent, to 9,310.99.
Broader stock indicators also declined. The Standard & Poor's 500 index fell 5.34, or 0.53 percent, to 998.01, and the Nasdaq composite index fell 65.24, or 3.54 percent, to 1,779.01.
The New York Stock Exchange composite fell 20.43 to close at 6,380.53, while the American Stock Exchange composite rose 34.34 to end the day at 1,496.90.
The Russell 2000 closed down 16.24 at 554.65.
The price of a barrel of light, sweet crude oil for November delivery fell $2.56 to $78.63.


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