Wednesday, January 23, 2008

Fed Saves Dow from Crash with Emergency Rate Cut Maneuver

Wall Street struggled to steady itself Tuesday, climbing back from an early plunge after the Federal Reserve implemented an emergency interest rate cut in hopes of restoring stability to a faltering U.S. economy. The Dow Jones industrials, down 465 points at the start of the session, recovered to a loss of more than 180 points.

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