- The Washington Times - Monday, November 10, 2008

NEW YORK (AP) — Wall Street’s short-lived enthusiasm over a $586 billion Chinese stimulus package has given way, once again, to anxiety about the U.S. economy.

The Dow Jones industrial average has ended the day down about 73 points, or 0.82 percent, at the 8870 level. That is above its lows of the day, but well below the levels it reached in early trading. Broader market indexes fell more than 1 percent.

Market participants realized that while China’s stimulus plan is a positive sign that governments around the world are working to fix the global economy, the stimulus itself will likely have only a limited effect in the United States.

Meanwhile, American International Group Inc. got additional bailout money from the government Monday, but that raised worries about the health of the broader financial sector.

Copyright © 2018 The Washington Times, LLC. Click here for reprint permission.

The Washington Times Comment Policy

The Washington Times is switching its third-party commenting system from Disqus to Spot.IM. You will need to either create an account with Spot.im or if you wish to use your Disqus account look under the Conversation for the link "Have a Disqus Account?". Please read our Comment Policy before commenting.

 

Click to Read More

Click to Hide