Trader Tom Kalikas works on the New York Stock Exchange floor Monday as Wall Street tumbled again.

Associated Press

Dow finishes below 10,000 for first time since '04

Joe Bel Bruno and Tim Paradis
Associated Press

Mon. October 6th

Wall Street suffered through another traumatic session Monday, with the Dow Jones industrials plunging as much as 800 points and setting a new record for a one-day point drop as investors despaired that the credit crisis would take a heavy toll around the world. The catalyst for the selling was the growing realization that the Bush administration's $700 billion rescue plan and steps taken by other governments won't work quickly to unfreeze the credit markets. Global banks, hobbled by wrong-way bets on mortgage securities, remain starved for cash as credit has dried up.   full story >>> TCT