Stocks began Tuesday with a rebound in the hope that Congress will find a way to approve the $700 billion bailout plan for banks that was rejected on Monday. President Bush
spoke briefly before the morning bell, hoping to calm jittery investors a day after the Dow Jones Industrial Average fell 777 points as they fled equities and credit markets tightened even further.
Bush assured the public that a bill would be passed and that the tax dollars invested in the bailout would be paid back. "This is not the end of the legislative process. ... What matters is that we get a law. We are at a critical moment in our economy," he said. "For the financial security of every American, Congress must act."
- Maria Woehr
Troubled Wall Street
Prices at 10:30 am EDT |
| Name |
Price at
open |
Price
at 10:30am |
Change |
Mkt cap |
| J.P. Morgan Chase & Co. |
44.63 |
44.90 |
3.95 |
154.49B |
| Merrill Lynch & Co. |
23.26 |
23.03 |
1.05 |
35.21B |
| Goldman Sachs Group Inc. |
126.89 |
125.90 |
5.21 |
49.48B |
| Morgan Stanley |
22.00 |
22.38 |
1.38 |
24.79B |
| Citigroup Inc. |
19.09 |
19.58 |
1.84 |
106.19B |
| Fannie Mae |
1.79 |
1.64 |
0.09 |
1.78B |
| Freddie Mac |
1.98 |
1.86 |
0.05 |
1.22B |
| Bank of America Corp. |
33.76 |
36.70 |
2.33 |
167.36B |
| Wachovia Corp. |
2.30 |
3.19 |
1.35 |
6.5B |
| Wells Fargo & Co. |
35.36 |
36.20 |
2.95 |
118.53B |
| American International Group Inc. |
3.18 |
3.10 |
0.60 |
8.2B |
Source: The Deal |
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