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House Defeats Bailout Bill — Market Falls

The House of Representatives defeated the $700 billion bailout for the credit market by a narrow margin.

Stocks immediately dipped — the Dow by 700 points, or about 7% — before recovering about 1/5 of the losses.

The S&P 500 dropped roughly 6.8% with 45 minutes left of trading.

Having liquidity in your account at this time is essential, as the buying opportunities presented over the coming weeks may be unprecedented.

This entry was posted on Monday, September 29th, 2008 at 2:17 pm and is filed under Uncategorized. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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