30 March 2009

Stocks Plummet as Automaker Plans are Rejected; GM Down 25 Percent- AP

Wall Street pulled back sharply Monday from a three-week rally after the White House rejected turnaround plans from General Motors Corp. and Chrysler. All the major indexes fell more than 2.5 percent, including the Dow Jones, which lost more than 200 points. Fears of an automaker bankruptcy have been looming over investors for months, and the latest developments made the market even more uneasy about the industry.

No comments: