Stocks skid on news gov’t won’t buy banks’ assets (AP)

Filed Under (Personal Finance) by on 12-11-2008

Specialist Michael Sollitto works at his post on the floor of the New York Stock Exchange Tuesday, Nov. 11, 2008. Wall Street got another dose of painful reality Tuesday, with stocks falling sharply as investors recognized that few industries are safe from the consumer spending slump — whether they're building homes, making cars or selling coffee. The Dow Jones industrial average managed to lift off its lows of the day, but still closed down nearly 180 points.  (AP Photo/Richard Drew)AP - A disheartened Wall Street has suffered its third straight loss, as investors absorbed more dismal corporate reports and news that the government won't buy banks' soured mortgage assets after all. The Dow Jones industrial fell about 410 points to the 8,283 level, and all the major indexes fell more than 4 percent.

--- AP ...

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