Fear About Prolonged Credit Crunch Sparks Global Selloff POSTED: 6:33 am EDT October 6, 2008 UPDATED: 4:12 pm EDT October 6, 2008 It has been another extraordinary and traumatic day on Wall Street , with the Dow Jones industrials plunging as much as 800 points before closing with a loss of 369 points. Before its comeback, the Dow surpassed its previous record for a one-day point drop -- 778, which the blue chips suffered a week ago when investors feared the bailout package might not pass Congress. The Dow set a new record for a one-day point drop and also fell below 10,000 for the first time since 2004. But it recovered somewhat in erratic trading as bargain hunting set in. The blue chips closed with a loss of about 350 at the 9,971 level. Investors around the world have been selling off stocks as they come to realize that...
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